Menopause is forcing thousands of Australian women out of the workforce early, leaving a devastating indent in their superannuation balances.
One in seven (7) Australian women face a superannuation penalty as they transition out of the workforce due to menopause, according to the Association of Superannuation Funds of Australia (ASFA).
A woman who retires five years early because of menopause faces an average superannuation deficit of $60,000.
160,000 Australian women enter menopause each year, with many finding the health condition affects their working lives.
Because of menopause, approximately 20,000 women switch from full-time to part-time work, 10,000 women leave the workforce temporarily and 4,000 women retire prematurely because their menopause symptoms are too severe.
ASFA found the average superannuation deficit caused by menopause is around $40,000.
