It’s nearly 2019.
We all want women to be paid the same as men and ensure no one has to retire in poverty because they took time out to raise babies or care for loved ones. We want to have our money invested in great companies we can celebrate, and we don’t want to be funding the industries harming our community or planet. And we don’t believe women should have to rely on a partner for a secure and comfortable retirement.
But the stats aren’t great. Women are still being paid substantially less than men over the course of our working lives (more than 20% on average, like working one day per week for free). Women then retire with just under half the superannuation of men, but live an average of five years longer *1. And today, the fastest growing demographic of people experiencing homelessness in Australia are women over the age of 55 *2.
Women face an uphill battle towards sufficient retirement savings. We’re also less likely to seek out financial advice, in part because we collectively distrust our financial services more than any other industry. As the Banking Royal Commission has shown us, we’re not wrong to distrust them; the system is in bad shape.
At Verve, we know that the reasons behind the retirement savings gap are complex. That’s why we believe it will take a dedicated effort to solve. We saw the need for a super fund with trust, community and service at the core. A fund that could speak with women, not at them. We wanted a super fund that had Verve.
Here are the reasons why it’s time for Verve Super.
It’s time for super that’s designed for you.
Our team have spent their careers growing women’s financial power and equality. We only work with industry partners who share our vision and ethics. Our diverse fund management team have a strong track-record of high performance in ethical investment. Our promise to you: we will continue listen, learn, serve and provide radical transparency. We are your financial partners for life.
*1 – Women retire with 47% less super than men – A 2017 Australian Services Union/Per Capita Report
*2 – https://streetsmartaustralia.org/seventy-and-homeless-for-the-first-time-the-rise-of-older-womens-homelessness/
*3 – https://ssir.org/articles/entry/mainstreaming_gender_lens_investing