A $4000 super baby bonus has been proposed by actuarial firm Rice Warner as a way to boost the retirement savings for women.
The amount would be paid into a woman's superannuation fund as a compensation for the time spent away from work to raise children.
The cost to the Government would be little more than $1 billion a year based on the current number of births in 2006, according to Rice Warner.
The firm proposed other measures such as allowing young women to pay an extra two per cent of their salary into superannuation, encouraging the take-up of the Government's co-contribution initiative or salary sacrificing.
Rice Warner estimated the initiatives would increase a woman's retirement income by up to 30 per cent.
"Any initiatives that lift the retirement savings of women should be carefully considered," the Association of Superannuation Funds of Australia (ASFA) chief executive Pauline Vamos said.
Targeted policies focused on women on low incomes should be looked at, including ASFA's proposals for soft compulsion and enhancing the co-contribution scheme, Vamos said.
