One year on: landmark reforms helping build stronger retirement futures for women
One year after superannuation was added to Commonwealth Parental Leave Pay—and as the super guarantee reached 12%—new modelling shows the reforms are already helping strengthen women’s retirement outcomes. HESTA modelling based on 18 weeks of paid parental leave shows the addition of super could add around $6,500 to a woman’s retirement balance. For women who […]
Proposed paid parental leave changes to worsen women’s financial security
Proposed amendments by the Coalition to the government’s legislation on superannuation for Commonwealth Paid Parental Leave (PPL) have been slammed by unions, including the ANMF. The Coalition’s proposals would see workers, mostly women, tap into their retirement savings by cashing out of super on Commonwealth PPL through taking a lump-sum or extra leave. The federal […]
Super to be paid on parental leave
Around 180,000 families each year are set to benefit from new laws to pay superannuation on Commonwealth Paid Parental Leave.
How super works: Strengthening public understanding
Three quarters of Australians believe super is important to their future wellbeing – yet public understanding of how super works to grow savings remains low, according to new research. For example, the survey found seven in 10 Australians don’t know the current super guarantee rate (11.5%), 75% couldn’t nominate super’s low tax rate, while a […]
Women face $80,000 deficit in retirement savings
While its known that retirement savings differs between men and women, a new study has shown the ‘gender pay gap’ begins from the first days of employment. Detrimentally , women face a deficit of more than $80,000 that they fail to recoup towards the end of their careers. Research Lead, Monash Business School’s Dr Carly […]