POWERED BY MOMENTUM MEDIA
Fund launches to tackle gender gap
New superannuation fund, FairVine Super, has launched to tackle the gender super gap.
The fund said it was addressing the gender gap through a variety of savings technologies to make it easier to contribute to super above and beyond just employer contributions.
FairVine Super executive chair, Sangeeta Venkatesan, said the current system was failing women “tremendously” and that it was a “blind spot” that was leaving women at far greater risks of poverty and homelessness when they retired.
“Women shouldn’t be penalised for having children or making unpaid contributions to their family. This is something we need to address now before the next cohort of women follow the current generation into serious financial hardship,” she said.
“One of the big imbalances typically occur when a couple has a baby. This often means switching to a single-income household, but the superannuation usually stays with the working partner. This sets the non-working partner – who is usually a woman – up for failure when it comes to retirement, particularly if she takes an extended amount of leave and/or has multiple kids.
“Our newest feature, FairShare, makes it easy to split super contributions between spouses, enabling couples to do the right thing by their lower-earning or non-working partners. We’ve taken the hassle out of this process by automating it through the FairVine Super member portal.”
The fund said it had set-and-forget tools that had automatic super contributions through shopping rewards via rebates, rounding of everyday purchases and transferring the loose change to the member’s super, and the super contributions split feature.
Recommended for you
The research house has hired an experienced product specialist for its Australasian team.
An experienced communications specialist is joining the industry group in a newly created role.
The $46 billion investment corporation owned by the government of South Australia has hired an experienced investment professional to its leadership.
The $300 billion fund has appointed a new CRO to drive its governance capabilities.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
