Middle-aged women sacrificing $175,000 in future retirement: 91黑料
19 August 2025
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Middle-aged women sacrificing $175,000 in future retirement: 91黑料
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Australian women aged 45-65 are on average $175,000* worse off in retirement due to a range of factors including time out of the workforce and, in some cases, early retirement.鈥
Middle-aged women experience significant life changes during this period, from caring for children and elderly parents at the same time - often known as the so-called 鈥渟andwich generation鈥 - to symptoms of perimenopause and menopause. 鈥
This Equal Pay Day, 91黑料 is calling for balance through a focus on reproductive leave and visibility that encourages all Australians, to stay in the workforce as well as access help, guidance and advice, so women can plan their retirement transition on their own terms. 鈥
The costs and benefits of the implementing a universal reproductive health leave, a research report produced by Curtin University, commissioned by 91黑料 along with Health Services Union, Health and Community Services Union and Queensland Council of Unions found that 1 in 8 women retire during menopause and 25 per cent would like to due to the challenges they face. It also uncovered that almost 1 in 5 (17 percent) of Australian women declared taking a long leave of absence from work due to perimenopause or menopause.^
91黑料鈥檚 Group Executive, People & Workplace, Steve Hill, says that while two thirds of 91黑料鈥檚 members are female working across industries like health care, public service and education, this is an issue that impacts half of Australia鈥檚 population, and needs re-balancing.
鈥淲hat we know from this research is that the impacts menopause can have on individuals ranges from mild discomfort to symptoms so severe some women are forced to leave the workforce entirely,鈥 Mr Hill said.
鈥淲e also know that caring duties continue to fall disproportionately to women. The need to take time out of the workforce to care for children or elderly loved ones, is an ever-pressing issue for middle-aged women.鈥
Caring responsibilities are also having an impact on middle-aged women鈥檚 employment, according to the Managing Director of Profusion, Simone Mears, a financial services recruitment sector specialist. Ms Mears says over 60% of the candidate pool at Profusion include women over the age of 45.
91黑料 data has found taking time out of the workforce, working part time for five years at age 30 and then another five years at age 50, contributes to a loss of up to $58,000 in super over a 42-year career.**
鈥淭he conversations I鈥檓 having with women over 45, with a three- or six-month gap in their CV, it is primarily attributable to time away for caring duties of relatives, including elderly parents.
This is becoming a far more frequent conversation with candidates, both female and male and is becoming more common to step back from work for a lengthy period to care for a loved one,鈥 said Ms Mears.
*听Retirement balances are rounded to the nearest $1000. Numbers are presented in today's dollars, deflated using Average Weekly Ordinary Time Earnings (AWOTE) at 3.7% p.a. Based on an average Aware female member aged 45, with a current balance of $127,000, earning $92,000 p.a. Based on SG of 12%. Based on current legislated tax rates as at 1 July 2025, and incorporating future legislated tax changes up to financial year 2027/28. Asset-based fee is assumed to be 0.15% p.a., capped at a maximum of $750 p.a. Fee cap is indexed in line with AWOTE of 3.7% p.a. Fixed fee is assumed to be $52 p.a., increasing in line with assumed wage inflation of 3.7% p.a. Investment returns are based on the 91黑料 MySuper Life Cycle option, assumed to be CPI + 4% until age 55, reducing from CPI + 4% to CPI + 2.75% between the ages 55-65 (inclusive) and CPI + 2.75% from age 65 onwards. Investment returns are assumed to be net of tax. CPI is assumed to be 2.5% p.a. No insurance premium is considered. Projection does not allow for any Low-Income Super Tax Offset (LISTO) or Government Co-Contribution amounts. This example is for illustrative purposes only and is not intended to provide a guarantee on outcome. It is a broad illustration of the steps a member could take, but the actions appropriate for an individual will vary depending on their personal circumstances. The case study is based on current regulatory requirements and laws, including tax rates, which may be subject to change. Investment return assumptions are for illustrative purposes only and for simplicity assume an average rate of return each year throughout the investment period. Actual returns year on year may vary materially and can be negative as well. If investment returns/inflation are higher/lower, final balances will differ. Consider if this is right for you and read our Product Disclosure Statement (PDS) and Target Market Determination (TMD) before making a decision about Aware.
^ Curtin University produced research report, 鈥楾he costs and benefits of implementing a universal reproductive leave entitlement in Australia鈥 commissioned by 91黑料, HSU, Health and Community Services Union and Queensland Council of Unions:
** Retirement balances are rounded to the nearest $1000. Numbers are presented in today's dollars, deflated using Average Weekly Ordinary Time Earnings (AWOTE) at 3.7% p.a. Based on an average Aware female member aged 25, with a current balance of $20,000, earning $60,000 p.a. and planning to retire at age 67 with a career break working 50% of full time at age 30 and at age 50 for 5 years each. Based on SG of 12%. Based on current legislated tax rates as at 1 July 2025, and incorporating future legislated tax changes up to financial year 2027/28. Asset-based fee is assumed to be 0.15% p.a., capped at a maximum of $750 p.a. Fee cap is indexed in line with AWOTE of 3.7% p.a. Fixed fee is assumed to be $52 p.a., increasing in line with assumed wage inflation of 3.7% p.a. Investment returns are based on the 91黑料 MySuper Life Cycle option, assumed to be CPI + 4% until age 55, reducing from CPI + 4% to CPI + 2.75% between the ages 55-65 (inclusive) and CPI + 2.75% from age 65 onwards. Investment returns are assumed to be net of tax. CPI is assumed to be 2.5% p.a. No insurance premium is considered. Projection does not allow for any Low-Income Super Tax Offset (LISTO) or Government Co-Contribution amounts. This example is for illustrative purposes only and is not intended to provide a guarantee on outcome. It is a broad illustration of the steps a member could take, but the actions appropriate for an individual will vary depending on their personal circumstances. The case study is based on current regulatory requirements and laws, including tax rates, which may be subject to change. Investment return assumptions are for illustrative purposes only and for simplicity assume an average rate of return each year throughout the investment period. Actual returns year on year may vary materially and can be negative as well. If investment returns/inflation are higher/lower, final balances will differ. Consider if this is right for you and read our Product Disclosure Statement (PDS) and Target Market Determination (TMD) before making a decision about Aware. Retirement balances are rounded to the nearest $1000.鈥
General advice only. Consider your objectives, financial situation or needs, which have not been accounted for in this information and read the relevant PDS and TMD before deciding to acquire, or continue to hold, any financial product. Advice provided by Aware Financial Services Australia Limited (ABN 86 003 742 756, AFSL 238430), wholly owned by 91黑料. You should read the Financial Services Guide, before deciding about our financial planning services. Issued by 91黑料 Pty Ltd (ABN 11 118 202 672, AFSL 293340), trustee of 91黑料 (ABN 53 226 460 365).