Parliament House
Telephone 02 6277
7780
CANBERRA ACT 2600
Facsimile 02
6273 7096
Website
NEW FINANCIAL LITERACY FACT SHEETS FOR WOMEN
A new Australian Government initiative will assist women who want to better manage
their money.
The Women Understanding Money fact sheets - published online today – are designed to
help women of all ages and income levels improve their financial security, especially as
they approach retirement.
There are 14 topics detailing real life stories will provide women with essential and
practical information on important financial issues, making the fact sheets relevant and
easy to understand.
The Australian Government recognises the barriers women face in ensuring their
long-term financial security and these fact sheets provide a simple way for women to
access the practical information they need.
Women often make the day-to-day spending decisions in families as well as important
decisions about their financial future.
Women now have more choices about how they manage their money than ever before
but are still more likely to have time outside the paid workforce, have lower incomes and
live longer than men, and this can limit their ability to accumulate adequate
superannuation.
Recent figures show that women are less financially independent in retirement:
Australian Bureau of Statistics (ABS) Retirement and Retirement Intentions 2006-07
figures show that almost half (47%) of women at retirement rely on their partner’s
income as their main source of income, followed by a government pension or
allowance (33%) and superannuation or annuity (7%).
By comparison, men rely predominantly on a government pension (52%) and on
superannuation or annuity (22%).
AXA Retirement Scope 2008: Results for Australia with International Comparisons
report found that the mean monthly income for retired women ($1616) is far less than
their male counterparts ($2249).
It also found less women (48%) than men (69%) are able to access superannuation
when they retire.
Fact sheet topics include managing on a low income, superannuation, understanding
financial terms, managing money when a relationship ends and the financial
considerations when starting a family.
Parliament House
Telephone 02 6277
7780
CANBERRA ACT 2600
Facsimile 02
6273 7096
Website
The information is communicated in plain English and uses personal stories, tips and
jargon busters to provide women with a practical resource to learn more about their
money and the importance of preparing for retirement.
The Women Understanding Money fact sheets are available for free online at
For more information, please contact Darrin Barnett on 0428 119 703
NEWS 
