Deline Jacovides

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314 appearances 1 recordings 1 series first heard Aug 2022 last heard Aug 2022

Deline Jacovides’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Super & retirement in Australia: a financial adviser’s perspective · 31 Aug 2022 podcast

closing.

That's due to a couple of reasons.

First of all, we've got the super system maturing now.

As I mentioned, we've got higher contributions going in now.

Also, there's a lagging effect because of the women's workforce participation.

That has increased over time, which means if women are working more and participating more in the workforce, they've got more contributions being saved into their super.

So those sorts of things are definitely helping close the gap, but it's not going to close completely.

The other thing that's helping with closing that gap is around voluntary savings, whether that's into superannuation or in another type of vehicle.

And what we see with the research is that women typically make more voluntary contributions than men.

So we see them making higher amounts

and for longer periods of time as well.

So if we know we're going to have a gap in our work career, we can plan and start contributing in advance.

If we're on leave, there's still options around contributing into super or other savings if we can afford to do that.

I know it can be quite tight if you've got...

you know, elderly parents that are sick or you've got young children and things like that.

So it can sometimes be a bit tight at that point.

But there's also options around splitting super contributions.

So if you haven't heard of that before, Google contribution splitting.

This is a really underutilized strategy, I think, where if you've got two people in a couple, one person is continuing to work

and a higher income earner, they can split some of their contributions over to their spouses super who may have a lower balance or may have a lower income to help equalize the balances.

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