Class super research revealed that the superannuation gender gap is diminishes in self-managed superannuation funds (SMSFs) over time, but still exists.
Class, an SMSF administrator, put the data together showing that men, on average, have a 42 per cent higher average balance than women at the outset of an SMSF. This gap reduces to 21 per cent over all SMSFs, indicating that the gender gap narrows over time.
This data comes from Class’ most recent benchmark report, which utilises data from over 26,000 SMSFs established on Class within five years from 2014.
Key findings from the report include:
Seventy-two per cent of SMSFs are set up originally as two-person funds, and that the full account balance should be taken into account, not just individual member balances
The average age at establishment of an SMSF is 48.9, with women slightly younger, starting their journey at 48.4 years of age
Men have 42 per cent higher average balances than women at establishment
This reduces over time to 21 per cent - but does not disappear