WOMEN WORRY MORE THAN MEN ABOUT RETIREMENT IN AUSTRALIA

The latest National Seniors Social Survey in Australia found that the degree of worry about retirement income was 47% higher in women than in men.

The survey report says that the reasons why women worry more about outliving their savings are longer life expectancy of women, Gender inequality in lifetime earnings and savings potential, gender role expectations , particularly related to caring and age and marital status. Australian Life Tables indicate that women live three years longer than men after retirement ages. The survey also found that women worry more than men in retirement is unsurprising given historical disparities in earnings and working patterns that place women in disadvantage in their potential top accumulate wealth over their working life.

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