“Whether you look forward to change or you dread it, change has a huge impact on us physically and mentally. Knowing how to deal with change and embracing change can improve your skills and attitude to thrive.”
This year, [Un]Equal Pay Day is on 28 August 2019, marking the 59 additional days from the end of the previous financial year that women must work, on average, to earn the same amount as men earnt that year.
We've had a think about what this means for us.
Quyen Truong grew up on a strawberry farm and never thought she’d swap fruit for finance but now, with fifteen years’ experience in the financial services industry, she has followed her dream to make a difference in the profit-to-member sector.
Emma Allison began her super journey as part of the Australian Institute of Superannuation Trustees (AIST)’s SuperGrad program. After studying Commerce at uni, and keen to get exposure to different areas of investments, she tells us that ‘the program was an excellent introduction to the profit-to-member super industry, which I didn’t know much about before joining.’
Twenty-eight super women are ready for the conference circuit after spending a day with the experts at Women in Super’s inaugural Speaking Training Day in Melbourne.
‘I was immediately sold on the promise of what super is about and industry super in particular. What a privilege to work in an industry that has such a capacity to change people’s lives for the better and to work in a way where you are completely uncompromised in putting members’ interests first.’
‘If I asked you how much you pay for your phone bill every month, you’d be able to tell me, but if I asked you how much you pay for your superannuation account every month, chances are you won’t know.’
We sat down with Pippa McKenzie, Marketing Campaigns Manager at HESTA, who were one of Women in Super’s earliest supporters 25 years ago. We chatted about her role at HESTA, her love for our superannuation system, and how sometimes it's good to look back on how far we've come.
“It’s important to acknowledge that we haven’t moved the dial enough – women still don’t get paid the same, women still don’t have as much super as men, women take maternity leave or carers leave, or they take time out of the workforce and consequently there’s always going to be that gap and how do we rectify that, and that is what we’re trying to champion for, but we have moved it a reasonable amount in the 25 years – it’s not that we’ve done nothing.”
On 1 July, new laws come into effect with the aim of protecting individuals’ retirement savings from erosion by fees and insurance charges.
When women are retiring with on average half the superannuation of men, Women in Super is certainly supportive of measures to protect women’s account balances from erosion. However, we believe hurried implementation due to the short timeframe for the introduction of these changes (the legislation for ‘Protecting Your Super’ was only passed in February) may see many lose insurance cover that they have held through their super account where this is not in their best interests.
As well as a proud WIS supporter, AIST CEO Eva Scheerlinck is also a strong advocate for improving retirement options for Indigenous communities.
‘Financial inclusion of all of our citizens is important,’ Eva says. ‘I find that really important and rewarding work, but there’s a lot to be done … so we need to start implementing effective change. That needs to happen to make sure that members are at the heart of the decisions we make, and the processes that we have within superannuation.’