A deep dive into demographics as part of Vanguard’s How Australia Retires study has highlighted some key gender differences in the road to retirement for Australian women.

New analysis from the study of over 1,800 working and retired Australians shows that Australian women face substantial gender-based differences, in homeownership, personal super balances, personal investments, annual income, and in overall confidence levels, leading up to retirement.

Commenting on the findings, Vanguard’s Shannon Nutter said “There’s a whole spectrum of circumstances that mean women aren’t on equal footing when it comes to being able to prepare for retirement or to retire well.

“On average, Australian women earn 13% less than their male counterparts, often work in industries with lower wages, take time off to manage home-related issues, care for children, and live longer.”

“All this means that women need to save or invest more to retire well, but have less assets to start with,” said Ms Nutter.