CENTRAL Victorian women risk a struggle to afford retirement as their superannuation average balances lag behind men, industry figures say.
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Bendigo-electorate women have on average half the super balance of men on average as they approach 65, according to new data from Industry Super Australia.
Women aged 55-64 have on average less than one fifth of the $545,000 recommended for a comfortable retirement, the data showed.
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ISA warned men aged 55-64 were also lagging behind what they needed for comfortable retirement, despite having on average double the super balance of women.
Industry Super Australia advocacy director Georgia Brumby said the situation was really serious for a whole cohort of women in Bendigo, jeopardising their quality of life during retirement.
Ms Brumby said instead of a carefree, comfortable retirement, it might mean decisions such as whether they can keep the heater on.
She called for action to improve super balances in Tuesday's federal budget.
"We're not talking about luxury items, we're talking about women having to live day to day on the pension," Ms Brumby said.
"For a whole generation of women in Bendigo, they're starting down the barrel of poverty in retirement."
Averages for the Bendigo electorate show women have less superannuation than men throughout their lifetime, with the gap widening with age.
In the 55-64 age bracket women had an average of $101,700 in superannuation, while men had $202,500.
Women aged 25-34 had a balance of $25,800 on average, compared to men's $32,000.
In the 35-44 age group, the split stood at $66,200 against $79,000.
By 45-54, women had $85,700 on average, compared to men's $130,100.
Ms Brumby said it was vital the federal government act to preserve the legislated increase in the compulsory superannuation guarantee, from 9.5 per cent to 12 per cent.
She said government should also legislate so women received superannuation on their parental leave payments, both Commonwealth and private industry payments.
Ms Brumby said government should also abolish the $450 per month threshold to earn super, as women were more likely have multiple part time jobs.
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