Superannuation

Superannuation, commonly known as super, is a universal worker retirement scheme in operation in Australia. Employers contribute a fixed percentage of the worker's salary to a fund selected by the employee. The superannuation system holds enormous wealth today and contributes to Australians being amongst the wealthiest people in the world.

Australian women tend to have lower superannuation balances which has left some labelling the system misogynistic and some companies, such as ANZ bank, paying women more superannuation than men.

Notably on average women retire five years younger than men in Australia.