Women encouraged to use superannuation to plug gaps in the public health system
The Australian Government’s compassionate release of superannuation scheme, managed by the Australian Taxation Office (ATO), currently acts as a safety net for those on lower incomes who need financial assistance prior to retirement. Almost all applications for early release of super are made on medical grounds, and more than half of applicants are women. Despite a persistent retirement gender gap of approximately $52,000, women are more likely than men to rely on their superannuation to cover essential healthcare costs prior to retirement.
