Women retire for longer with less money - State offers free superannuation seminars

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  • Date:
  • Location: Maroochy RSL Maroochydore, Not Assigned 0000 Queensland

Joint Statement:
Deputy Premier, Treasurer and Minister for State Development, Trade and Innovation
The Honourable Anna Bligh

Minister for Environment, Local Government, Planning and Women
The Honourable Desley Boyle


Women retire for longer with less money - State offers free superannuation seminars

Women will have the opportunity to attend free seminars to help them catch up with men in the superannuation stakes.

The seminars were announced today by Treasurer Anna Bligh and Women's Minister Desley Boyle and are a joint initiative of the Queensland Government Office for Women and Government Superannuation Office fund QSuper.

"By 2019, the average woman will be retiring with only half of the superannuation of the average man," Ms Bligh said.

"Fifty per cent of women who have retired or will be retiring in the next ten years have less than $20,000 in superannuation.

"Yet women live longer and are more likely to live alone in their older years.

"A superannuation system designed around the traditional families of fifty years ago is leaving women short-changed when their working life is over," she said.

The women's superannuation seminars are open to all women (not just QSuper members) and the first series will be held in Brisbane, Cairns, Townsville, Maroochydore and Toowoomba between March and May 2006.

"These seminars have been designed to give women a better understanding of the challenge they face as well as some practical hints for improving their situation," Ms Boyle said.

She said the seminars were designed to make women aware of tools they could use to increase their superannuation such as salary sacrificing or making co-contributions, as well as pointers on the types of questions to ask their own super fund or financial advisor.

She said women were more than twice as likely as men to live in poverty in their old age.

"Women are never too young to think seriously about superannuation and even those who may think they have left it too late can still make smarter choices for the future.

"Young women are in the best position to plan for a great lifestyle in their 'freedom years'," Ms Boyle said.

"Each small investment they make now will make a major difference by the time they finish working.

"Those who have already fallen behind through career breaks or part-time work, can still do more than they think to catch up and give themselves better opportunities to enjoy their well-earned retirement.

"We women work hard all our lives and often spend years putting our families' needs ahead of our own," Ms Boyle said.

"Let's think smart and do all we can to have enough money to enjoy those years when we finally have more time and freedom," she said.

For more details of seminars and bookings, phone 1800 177 577 or visit www.women.qld.gov.au.

Seminars will be held in Brisbane on March 21, Cairns on April 26, Townsville on May 3, Maroochydore on May 17 and Toowoomba on May 23.

Maroochydore 17 May Ripples Room
Maroochydore RSL
Memorial Drive
5pm to 6.30 pm (including refreshments)


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Maroochy RSL Maroochydore, Not Assigned

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