Thanks for caring, now your Superannuation’s worth half as much as men

Can you guess how much unpaid childcare is worth in Australia?

An estimated $345 billion, according to a March 2017 report by PwC, which would make it the largest industry in the formal economy.

The majority of the work is being undertaken by women.

But don’t expect to get financially rewarded for it.

Such caring responsibilities, as well as the gender pay gap and other factors are contributing to a significant divide between the superannuation savings of women and men.

We are retiring with around half as much (53%) superannuation as men, according to new research today from think tank Per Capita and the Australian Services Union.

It’s not hard to see why.

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