The Federal Government has signalled a targeted initiative – an economic security statement – aimed at women to be launched in September this year which is likely to have superannuation implications.
The so-called economic security statement has been flagged by the Minister for Revenue and Financial Services, Kelly O’Dwyer who framed it against the background of women having substantially lower superannuation balances than men.
The minister indicated that tonight’s Budget was likely to “build the steps” around the September economic security statement.
O’Dwyer acknowledged that the statement would touch on issues including the pay and superannuation gaps endured by women and the fact that their median superannuation balance was around 42 per cent less than men.
“So all the things that we can do to be able to help women to be able to save for their retirement - because women, happily for all those women out there, live a lot longer than men - all that we can do to actually help them to be
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
A “concerning” number of Aussies don’t know what they pay in super fees, a young super fund has said.
The corporate regulator has shared some ‘disappointing’ findings upon reviewing the public communications of more than 20 trustees with regards to death benefits.
According to the industry body, funds should have an obligation to transfer members in failing products to better-performing products in a timely way.
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