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.