Despite calls to introduce compulsory superannuation payments for parents on parental leave, the Department of Social Services has said it has not met with advocacy group Women in Super about the proposal.
Senator Larissa Waters asked the department during a Senate Estimates Committee hearing on whether it had met with the group regarding the Women in Super’s Make Super Fair campaign in October.
Waters also asked if it had prepared any advice to the Minister or Treasurer regarding super payments on parental leave.
The department answered the question on notice in December and said: “The department regularly provides advice on a range of issues related to Paid Parental Leave, including policy options, payment rates, cohort analysis and commentary on analysis undertaken by research and other organisations”.
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.