POWERED BY MOMENTUM MEDIA
Calls for Budget policy impact assessments on women’s super
Women in Super (WIS) has called for a gender analysis of future Budget decisions to ensure that adverse impacts on women are assessed as part of policy design.
WIS’s 2022 Budget submission outlined several measures, including the proposal for super to be paid on Paid Parental Leave, with each measure designed to bridge the superannuation gender gap in which women retired with around a third less super than men on average.
WIS chair, Kara Keys, said: “The super gender gap challenge is like a ship with lots of leaking holes. We can and must plug as many of the holes as possible, such as the recent welcome abolition of the $450 income threshold for super payments.
“But the super gender gap will persist without broader policy reform. Super is tied to wages, and with women disproportionately in lower paid work and doing more unpaid caring, they receive less super. If we don’t fix this, women will continue to retire in poverty.”
WIS also called for the Government to address areas of the economy where super was not paid such as the gig economy, apply a Low-Income Super Tax Offset to wages up to $45,000 and commence work on a framework for a national carers’ credit as part of the retirement system.
Keys said putting a gender lens over policy making would ensure that adverse impacts on women were avoided.
“A Budget and policy gender impact analysis would have identified many recent problems before they existed.
“For example, it could have resulted in a better design of the early release of super to ensure protections for women in unsafe situations, prevented the $450 monthly income threshold for super payments, or ensured that paid parental leave is not the only form of leave where no super is paid.”
Recommended for you
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
