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Why Women Have Lower Retirement Savings: The Australian Case

Author

Listed:
  • Jun Feng
  • Paul Gerrans
  • Carly Moulang
  • Noel Whiteside
  • Maria Strydom

Abstract

This study provides empirical evidence of the gender gap in retirement savings trajectories using a large longitudinal Australian database. The persistent trend of retirement income policy over recent decades has been to place responsibility for retirement savings accumulation with the individual employee. These plans are fundamentally linked to employment conditions and individual choices, which shape retirement savings trajectories and outcomes. Australia has a mature compulsory system and thus provides insight for countries embarking on similar paths. This study shows that the gender gap in retirement savings is observable from early on in an individual’s paid working life and persists over time, providing evidence that women are disadvantaged early in their careers, with few signs of improvement. Men, in contrast, are overrepresented in the upper quartile of growth in retirement savings. This study provides important empirical evidence for policymakers concerned with gender differences in retirement outcomes.

Suggested Citation

  • Jun Feng & Paul Gerrans & Carly Moulang & Noel Whiteside & Maria Strydom, 2019. "Why Women Have Lower Retirement Savings: The Australian Case," Feminist Economics, Taylor & Francis Journals, vol. 25(1), pages 145-173, January.
    • Handle: RePEc:taf:femeco:v:25:y:2019:i:1:p:145-173
    DOI: 10.1080/13545701.2018.1533250
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    Cited by:

    1. Ahmad Saleh Ghadwan & Wan Marhaini Wan Ahmad & Mohamed Hisham Hanifa, 2023. "Financial Planning for Retirement: The Moderating Role of Government Policy," SAGE Open, , vol. 13(2), pages 21582440231, June.
    2. Christos I. Giannikos & Efstathia Korkou, 2022. "Gender Differences in Risk-Taking Investment Strategies in Defined Contribution Plans," JRFM, MDPI, vol. 15(5), pages 1-18, May.
    3. Alison Preston & Robert E. Wright, 2023. "Gender, Financial Literacy and Pension Savings," The Economic Record, The Economic Society of Australia, vol. 99(324), pages 58-83, March.
    4. Isha Chawla & Joseph Svec, 2023. "Household savings and present bias among Chinese couples: A household bargaining approach," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(1), pages 648-672, January.

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