First State Super is a sponsor of today’s NSW Women of the Year Awards, as it uses this year’s International Women’s Day to reinforce its support of a number of initiatives aimed at progressing women.
Chief executive Michael Dwyer saying that the Awards “are [an] important reminder to us of the contribution of women and of the continuing need to strive for equality.”
The Awards, run by the NSW Government, would be presented later today and honour the achievements of women who have made significant contributions to their communities.
First State Super also endorsed the United Nations Women’s Network theme of “leave no woman behind,” and supported Women in Super’s Make Super Fair movement.
The Make Super Fair campaign advocates that the Federal Government should:
Dwyer said that First State Super’s support of these initiatives was important in supporting the women the fund provides superannuation and financial planning services to, which number at over 500,000.
“Currently, women retire with around half the superannuation savings of men and around 33 per cent of women retire with no super at all. While we understand how this gap starts, and widens, we also know what can be done about it,” he said.
“Advice changes lives and we see the impact that trusted financial advice, education and support can make.
“We provide superannuation and financial planning services to over 500,000 women, many of whom work in health, policing, education, emergency services and other roles caring for the community,” Dwyer said.
“These women make a significant contribution to the wellbeing of others, and to the economy, and it is our privilege to help them achieve the retirement income they deserve.”
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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