Millions of older women in Australia face entering retirement in poverty, unless action is taken, a new report today warns.

While the superannuation gap has historically been put down to women having children and accumulating less super, events later in life are also behind the shortfall, research commissioned by the Super Members Council (SMC) found.

They include separation with partners, unpaid caregiving for older relatives, and family violence.

They can dramatically erode women’s ability to save for retirement, and could mean up to $95,000 less in super.

Super Members Council chief executive Misha Schubert says the report’s findings should be a wake-up call for policymakers.

“Australia has made important strides in recent years on the gaps in pay, super and workforce participation, but this research shines a spotlight on the need for further bold reforms to ensure our retirement system truly works for women – especially low-income women,” Schubert said.

“Without urgent action, generations of Australia’s lowest-paid women risk poverty in retirement.”

The report also found rising numbers of single older women are now renting, with nearly 60 per cent of older female renters already living below the poverty line.

Policies enabling women to withdraw super early for house deposits would make them significantly poorer in retirement, with less income to live on.

The SMC data showed women today retire with 25 per cent less super than men.

The median super balance of women aged 60 to 64 is $51,000 lower than for men, and women are around 10 per cent more likely to have no super at all.

From July 1, new parents taking paid maternity or paternity leave can be paid superannuation.

Schubert said this and other reforms are welcome, but more needs to be done.

They include: unfreezing the Low-Income Super Tax Offset, to help low-income women to build their super; paying super for all workers, including nannies, housekeepers and carers, and for all workers aged under 18; and enabling fairer splitting of super in divorce settlements whether or not they are handled in a court.