Women, Superannuation and Lifestyle

Super – Vital for the New Age Woman

Statistically women tend to live longer than men, making it even more essential for them to accumulate enough superannuation to last through retirement.

According to a survey by Lonergan research conducted in 2011, 83 % of women say that their death will place a huge financial burden on their family. Taking out Life insurance can ensure that your family will not be in financial trouble if you are no longer able to provide for them.

Women face unique challenges when it comes to retirement savings. Women are known to be lower pay earners, time out of the workforce to raise children, and running a single-parent household, make it challenging to build a reasonable amount of super.


There some simple strategies women should consider.

  1. Super is good for you
  2. Start to understand
  3. Options available to grow your Super
  4. Track down lost super
  5. Women of all ages should have a better understanding of financial matters and be more active in preparing for retirement.

Centre In Financial Planning is able to educate you in various areas:

  1. Retirement adequacy
  2. Government contribution incentives
  3. Career breaks
  4. Understanding your investment risk profile
  5. Accessing benefits
  6. Understanding Lfe Insurance, Income protection, Trauma, and Risk management
  7. Superannuation and your Estate planning
  8. Aged care

Why Super?

Superannuation is a very tax-effective way to save for your next stage of life - retirement. Your super fund pays a low rate of tax on contributions and investment earnings while you grow your wealth. Without super, many women are forced to rely on the age pension in their senior years. But the pension is designed as a safety net and not to provide a comfortable retirement. This is the time to focus on growing your super. Speak to our financial planners to find out more.

Understand Super

Your employer should be making super contributions on your behalf. These contributions will be worth around 9.50% (from July 1st, 2014) of your annual wage or salary.

If you haven't given your employer instructions about the super fund of your choice, it's likely that contributions are paid into a fund your employer has chosen. Take the time to read your statements and understand where your Superannuation is invested.

Normally you are able to select your own fund and have your employer's contributions paid into that. If you have several super funds, it's a good idea to consolidate your super to your preferred fund. This will save you on extra administration fees.

Super strategies which women need to remind themselves and "take control"

Look at your current Super statement,work out how much you need and take action:

Just five steps:

  1. Comsolidate your super to reduce fees
  2. Look at the investment strategy
  3. Consider co-contribution
  4. Find lost super
  5. Salary sacrifice
  6. Ongoing management and service 

Super, Life Insurance and Women 

There are many types of life insurance cover that women can take out in order to protect themselves and their family against detrimental situations and events. Life insurance for women is a cover that all women should consider, particularly if you are a main contributor to the household income.

If an unforeseen circumstance occurs, will your family experience financial hardship. Holding a life insurance cover helps your family not be in financial trouble if you are no longer able to provide for them.

Within or outside Super you able to include various types of insurance cover.

  1. Life Insurance
  2. Total and Permanent disability (or invalidity) insurance (TPD)
  3. Income Protecttion (Salary continuance) Insurance
Women, Superannuation and Lifestyle

Organise a no-obligation consultation today.

Contact the team

Call: 03 9813 5822 Email: cif@cifp.com.au

To discuss your needs or if you have any questions.

You may be interested in our other professional services

Financial Planning

Financial Planning

Need Financial Advice?

Financial planning should be considered as an important part of life.

Developing appropriate financial planning strategies may be difficult for some people.

Centre In Finance can help you manage your financial affairs and meet your life goals – the first step is to make sure you have access to the right financial advice.

Read More
Superannuation

Superannuation

Why is super so important?
Clever Super Strategies to consider?
How tax-effective is super?

Superannuation the more you save the sooner you can stop working.

Many think Super as just a percentage of your salary that you can't access.

It is important to remember - that superannuation is your money, it is only held until you retire.

Read More
Retirement Planning

Retirement Planning

Can I afford to retire?

Once you reach your preservation age you can access your super, so you have a number of options available to you.

Retiring permanently largely depends on whether you have the financial resources available to last for the rest of your life (which could be over twenty years). Especially if you do not have access to the age pension until you're 65 for men and for women the rule is, depends in which year they are born.

Read More
Wealth Protection

Wealth Protection

We consider it very important in securing the financial future you want for yourself and your family.

Our financial planning team works to assist you in understanding what impact unexpected health issues or death may have on your family’s situation and how your assets or quality of life, may be at risk.

It seems strange that most people will insure their car and house but few will insure their most valuable asset - themselves.

Read More
Savings Plan

Savings Plan

Full details coming soon

Full details coming soon

Read More