How COVID-19 has widened the gender super gap

With the coronavirus outbreak (COVID-19) wreaking havoc on the global and Australian economies, new research by AMP shows the extent of the economic impact of COVID-19 on the super account balances of Australian women.

Diana Mousina, Senior Economist at AMP Capital, and AMP Data Insights Manager, Tracy Lewis, discuss the latest findings on the widening gender super gap. These include contributing factors such as job losses, the gender pay gap, and early super withdrawals.

Watch to find out ways to rebuild your super savings if you’ve accessed the government’s early super access scheme, and what you can do to help close the gender super gap.

00:27 – What is the gender super gap and what is its relationship to the gender pay gap
1:01 – Findings from AMP’s latest research has revealed that the gender super gap has widened even more this year following the Australian Government’s early super access scheme.
1:33 – Snapshot of the average early access to super withdrawal amounts and what COVID-19 withdrawals are as a percentage of super account balances for both Australian men and women
2:01 – What the early release of super withdrawals will mean for Australian women and their retirement income
2:44 – Ways women who have withdrawn money as a part of the early release of superannuation funds can try to rebuild their super savings
04:04 – Summary of the economic impact of COVID-19 on the gender super gap

Original Author: Produced by AMP and published on 31/07/2020 Source