Bridging the gap
28 August 2021
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“ FACT: The median super balance for Australian women at retirement is 23.4% less than men ”
– Workplace Gender Equality Agency, Gender workplace statistics at a glance 2021, 19 August 2021


How can you bridge the gap? To ensure you maximise the benefits that super can provide, consider these steps:
Top up your super
Make extra contributions on top of your employer contributions. For instance, regular, fortnightly contributions can make a substantial difference to what you will have in retirement. This is due to the compounding effect, where you earn investment returns on your investment returns. If you are working part time, there is a greater potential that you might qualify for the Government’s co-contribution scheme.
Consolidate your super
If you have super in multiple funds, think about consolidating them into one account. This could save on paperwork and fees. Before leaving a fund, you should always check if you will lose any valuable benefits like insurance cover.
Stay up to date
- If you have changed your name or contact details, be sure to let your super fund know, so that you can stay up to date about important information.
- To find any super that you may have lost track of, log into your MyGov account.
In the event of your death, your Triple S balance, including any insurance will be paid to your surviving spouse. You can nominate a legal personal representative (estate) if you don’t want your benefit to be paid to your surviving spouse. Your super will then be paid to your estate and distributed according to your Will. If you don’t have a spouse, the entitlement will be paid to your estate. Either way, ensure your Will is up to date, especially if your personal circumstances change (e.g. if you marry, divorce or have a child).
Review your investment choices
Understand how your super is being invested and review the options that Super SA provides. Get to know the basics of investing so you are equipped to understand what investment option might work best for your circumstances. Choosing an investment option is a very personal choice and will depend on factors like how long you have until your retirement, how much you’ll need, and how you feel about risk vs return.
Check your insurance cover
Review your insurance cover. Log onto the member portal to check what level of insurance cover you have. Use the insurance cover estimator to work out whether you have enough insurance to meet your needs and your family’s needs, should the unexpected happen.

Saving as a couple?
Did you know Triple S members can open a Spouse Account for an eligible spouse? This allows your spouse to contribute towards their own super and for you to “split” contributions into their account – so you can save for retirement together. The Spouse Account can also be used to receive any matching co-contribution payments from the Government and rollovers from other funds.

Did you know?
The Government provides options that can help you get more out of your super.
The co-contribution scheme provides an additional contribution to your super for after-tax contributions you make, providing you are eligible. You don’t need to do anything to claim these benefits. The Australian Taxation Office will make the payments to your super fund if you are eligible.
You can also check to see if you are eligible for the Low Income Superannuation Tax Offset (LISTO).
Source: Workplace Gender Equality Agency, Gender workplace statistics at a glance 2021, 19 August 2021, https://www.wgea.gov.au/data/fact-sheets/gender-workplace-statistics-at-a-glance-2021
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