Shocking differences between superannuation in men and women across Victoria

Search our comprehensive interactive to see where women across Victoria are retiring with significantly less superannuation than men.

Industry Super Australia data show women are likely to retire with less superannuation than men​.

Women across Victoria are retiring in poverty with significantly less superannuation than men, the latest data has revealed.

The survey, conducted by Industry Super Australia, showed women spend 12 years less in the workforce than men.

In Mallee, in north-west Victoria, women had 41 per cent less than men, according to the data.

In Bendigo and Corangamite they retired with 38 per cent less.

Women in Cooper were the best off — retiring, on average, with 8 per cent less.

Industry Super Australia chief executive Bernie Dean said the federal government should guarantee paid super during parental leave.

“Whoever wins the election needs to front up and pay super on government funded parental leave, it’s a small investment that will help boost the retirement savings for thousands of mums each year,” Ms Dean said.

“Working mums should not be going backwards when they take time out of paid work to raise children, it should not be the situation that many women retire at risk of poverty, we can and must do better.”

Men and women begin with similar balances in superannuation but the gap grows after women reaches their 30s.

Since 2011, 379,000 Victorian mothers missed out on $424 million in retirement super.

Women with two children can lose $15,000 off their final retirement.

Men in their 30s have $68,000 in super in comparison to women who only have $43,000.

Bendigo’s Mums for Mums organiser Debra McMahon said it was unfair women had to go without a major part of their retirement fund because they chose to raise children.

“Wages are lower (for women) and if you’re a single mother, you don’t have that second income for when you get to retire at 65. It’s not easy,” Ms McMahon said.

The Liberals and Labor parties have indicated they will not pay super during parental leave, while the Greens have shown their support.