“There’s a very real chance of people falling short financially when they retire,” she said. “The likely scenario for many is that their super fund might be enough to ‘scrape by’ but it won’t allow them to enjoy the golden years in the way they had planned. “Often people don’t realise just how much they’ll need in order to fund their ideal retirement.” Pointing to the Association of Superannuation Funds of Australia (ASFA) Retirement Standard data, Finder said the average man could only live for 3.5 years off their super, and only 2.8 years for women. “Women have saved only 79% of the amount of their male counterparts by the time they reach retirement – often feeling the effects of the gender pay gap and time out of the workforce to perform caregiver duties,” Banney said.