Couples should be allowed a joint superannuation account, similar to joint bank accounts and mortgages, to bolster the superannuation savings of women, says the chief executive of ANZ's Global Wealth division, Joyce Phillips.

Ms Phillips outlined a range of proposals to improve the level of retirement savings for women in Australia, warning that a large proportion of Baby Boomer women born between 1946 and 1964 were likely to outlive their pool of retirement savings by 16 years, and be forced to rely on pensions and the public purse.

In the event of a divorce, superannuation is a ''clearer asset'', says ANZ. Credit:Glenn Hunt

Ms Phillips said about two-thirds of Australians were married when they retired and pooled their finances across other areas of their lives, so joint superannuation accounts made sense. It would allow for better flexibility and a sharper focus on superannuation, and a cleaner split in the event of a break-up.

"In the event of divorce it's a ... clearer asset that's on the table," she said.