POWERED BY MOMENTUM MEDIA
Gender equity push to improve women’s retirement
The Federal Government, in conjunction with the Australian Human Rights Commission, has announced further plans to help bridge the gap between men and women's retirement savings.
Employers can now access a toolkit which provides techniques to attract, recruit, retain and develop women and which is designed to allow women to break into traditionally male-dominated industries. The Labor Government has contributed $50,000 to its development.
The Minister for the Status of Women, Julie Collins, said getting more women into male-dominated industries could help provide gender pay equity and close the retirement savings gap.
"Getting more women into male-dominated industries is an essential component of addressing future skills shortages, as well as improving gender pay equity, which continues to hover at around 17 per cent, meaning women are more vulnerable to poverty in old age; are retiring with less superannuation and with a greater reliance than men on the age pension," she said.
"The toolkit forms a part of Australia's commitment to the Equal Futures Partnership, an international commitment to expanding opportunities for women launched in New York last year by then US Secretary of State Hillary Clinton."
Collins said equality between men and women was at the heart of Federal Government reforms in this area.
Women would benefit from increases to the superannuation guarantee rate as well as the Low Income Superannuation Contribution, Collins said, which would impact the retirement savings of 2.1 million women.
She said further Budget reforms that would improve the standing of women included reforms to carer arrangements, paid parental leave reform and other moves to improve pay equity and grant women access to areas of work typically reserved for men.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
