elderly family members, reach retirement age with significantly less in superannuation and savings than their male counterparts. “This issue is not just about fairness,” Sparrow adds. “It’s about ensuring that women who have spent decades contributing to society—whether through paid work or unpaid caregiving—are not left struggling in their later years. The financial challenges of aging should not disproportionately affect women simply because they took on caregiving roles earlier in life.” COTA Australia advocates for policies such as superannuation payments on paid parental leave to help future generations of women retire with greater financial security. “We need to address these systemic barriers now so that aging doesn’t mean financial insecurity for women in the future,” Sparrow emphasizes. “By ensuring women receive fair superannuation contributions during caregiving periods and eliminating structural disadvantages, we can create a more equitable retirement system where financial stability is not determined by gender.” PROGRAMS DESIGNED FOR AGING AUSTRALIANS While COTA Australia’s national body focuses primarily on advocacy, state and territory COTAs offer a range of direct services and programs. Strength for Life is a fitness initiative available in multiple states, designed to help older Australians maintain physical strength and prevent falls. “Exercise is critical for aging well, and this program ensures older people have access to age-appropriate fitness options,” Sparrow says. In Victoria, COTA offers community legal services, providing support with cases of elder abuse and other legal matters affecting older individuals. Legal support can be crucial in protecting the rights and dignity of older Australians facing complex legal challenges. Digital mentoring programs are another key initiative that helps older Australians build digital confidence. Many services are moving online, but not everyone feels comfortable navigating digital platforms. By pairing older Australians with mentors, we’re bridging the digital divide,” Sparrow explains. These programs promote digital literacy, helping on government assistance, depleting their limited savings, or struggling to find stable housing. The impact of these financial inequalities is evident in statistics showing that older women are one of the fastest-growing demographics facing homelessness. Many women, particularly those who have taken time out of the workforce to care for children or 60 BUSINESS VIEW OCEANIA VOLUME 07, ISSUE 03
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