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
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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