Exploring recent increases in the gender wealth gap among Australia’s single households

Austen, Siobhan; Ong, Rachel; Bawa, Sherry; Jefferson, Therese

doi:10.1177/1035304614556040

Cited by 11 publications

(11 citation statements)

References 16 publications

(24 reference statements)

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“…Austen et al . (2015) found that the gender wealth gap for single‐headed Australian households between 2002 and 2010 was driven by rapid increases in housing prices and suggested that greater male willingness to invest in risky assets such as shares was not the main contributor for this time period.…”

Section: Underlying Causes Of the Gender Superannuation Gapmentioning

confidence: 99%

Quantifying Australia’s Gender Superannuation Gap

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Saba

2021

Economic Record

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This paper quantifies the factors contributing to Australia’s gender gap in superannuation balances. Around 60 per cent of the gap can be attributed to the prior stock of superannuation, for respondents who had superannuation balances in both 2014 and 2018 in the Household Income and Labour Dynamics in Australia Survey. This is partly due to the accumulation of the prior gap with investment returns. Financial literacy and risk aversion explain around 7 per cent of the gap in total, such as through impacts on subsequent investment returns. Work patterns and wage rates affect contributions and explain approximately 30 per cent of the superannuation gap in total.

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Section: Underlying Causes Of the Gender Superannuation Gapmentioning

confidence: 99%

Quantifying Australia’s Gender Superannuation Gap

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Saba

2021

Economic Record

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“…Other forms of financial wealth also feature a strong gender divide. For example, 2010 Household, Income and Labour Dynamics in Australia (HILDA) Survey wealth data for single men and women aged 55+ show a 79 per cent gender gap (favouring men) in the net value of business assets and a 25 per cent gap in the net value of financial instruments (Austen et al , Table 1).…”

Section: The Gender Gap In Retirement Income Savings and Wealthmentioning

confidence: 99%

Gender Issues in an Ageing Society

Austen

2016

Australian Economic Review

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Many aspects of our ageing society are deeply gendered. The number of older women is substantially larger than the number of older men. Women are also more likely than men to live the latter part of their life without a spouse. Relatedly, they are more likely than men to be involved in caring for other ill or disabled older family members. This article examines how the combination of gender differences in life expectancy, marriage, care roles, workforce participation and current policy settings combine to produce gender inequality in old age. It identifies policy measures to redress this imbalance.

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“…Significant social disadvantage in later life for women is linked to poorer employment outlooks analyses below and also to women’s lower levels of wealth relative to men as documented by Austen et al (2014). One aspect of the income and wealth differential is women’s significantly lower level superannuation holdings, resulting from their lower capacity for contributions across the life course (Australian Institute of Superannuation Trustees, 2014: 7).…”

Section: Discussionmentioning

confidence: 99%

“…This article explores structural barriers to women’s employment equality and the reasons why the policy requirement to work until one’s late 60s may be difficult for many to achieve. Paradoxically, women need to work longer than men of a similar age because of a gender wealth gap that includes, but goes beyond, a pay and income gap (Austen et al, 2014). This accumulating gap in economic assets translates to a smaller pool of resources available to supplement public pensions which are under pressure in the age of austerity.…”

Section: Introductionmentioning

confidence: 99%

The implications of Australian women’s precarious employment for the later pension age

Sheen¹

2017

Econ. labour relat. rev.

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The increase in pension eligibility ages in Australia, as elsewhere, throws into relief the consequences of gender inequality in employment. Because of career histories in lower paid and more insecure employment, a higher percentage of women than men are dependent on the age pension rather than on superannuation or savings and investments, and so will be disproportionately affected by deferred access. Yet, fewer women than men hold the types of ‘good jobs’ that will sustain them into an older age. Women are more likely to be sequestered in precarious employment, with reduced job quality and a greater potential for premature workforce exit. This article counterposes macro-level data drawn from national cross-sectional labour force statistics and the longitudinal Household Income and Labour Dynamics Australia survey, with case study analysis, based on interviews with 38 women in midlife insecure jobs, in order to identify the types of life course and labour market barriers that contribute to women’s reliance on the pension and the systemic disadvantage that will render them particularly vulnerable to any further erosion of this safety net. The analysis moves between this empirical evidence and a discussion, drawing on the theoretical literature, of the failure in equal opportunity endeavours over recent decades and what this means for later life workforce participation for women. JEL Codes: D91, J16, J71, J88

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Exploring recent increases in the gender wealth gap among Australia’s single households

Cited by 11 publications

References 16 publications

Quantifying Australia’s Gender Superannuation Gap

Quantifying Australia’s Gender Superannuation Gap

Gender Issues in an Ageing Society

The implications of Australian women’s precarious employment for the later pension age

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