Women's SMSF balances increase more than mens over five-year period

The Australian Tax Office’s annual overview of self-managed superannuation funds (SMSFs) found that the average female balance increased by 28 per cent, while men’s increased by 22 per cent in the 2018/19 financial year.

There remains, however, a disparity between average member balances. Women have an average balance of $654,000 while men have $784,000.

SMSFs have achieved positive returns across the last five years with a return on assets sitting around 6.8 per cent for the 2018/19 financial year.