We are all adjusting to what we're slowly coming to realise is the new normal. For some, this adjustment will come naturally, for others it will be a bit more difficult, but we're all in it together. Here are some things that we think will help.
Accessing superannuation early should be a last resort for women experiencing financial hardship, according to one of Victoria’s leading family violence legal services.
Women’s Legal Service Victoria warns that women need to act cautiously when deciding whether to take advantage of the Federal Government’s new COVID-19 package that allows the early release of super up to $20,000.
The Retirement Income Review Panel has been tasked with establishing a “fact base” of the current retirement income system, focusing on three pillars: the government age pension, compulsory superannuation, and voluntary savings including home ownership. Women in Super has prepared a submission in response to the Review, asking the Panel to utilise a gender lens, when considering the current system, because women, by nature, live, work and retire differently than men do, and these differences need to be considered in order to ensure the system in more equitable in the future.
On September 27 2019, the Government announced a Retirement Income Review (RIR) to look into our current superannuation system.The Review Panel has been tasked with establishing a “fact base” of the current retirement income system, focusing on all three pillars: the government age pension, compulsory superannuation and voluntary savings including home ownership, ans is made up of Michael Callaghan, Carolyn Kay and Dr Deborah Ralston. They are due to provide a final report to the Government on 30 June 2020. The Terms of Reference of the RIR made no mention of women, or the significant differences in outcomes for men and women. This is obviously inadequate, and so Women in Super coordinated an open letter to the Treasurer requesting an amendment to the Terms of Reference be made.
Women in Super hosted our Annual General Meeting and 25th Anniversary Celebration a couple of weeks ago, at Foys Arcade in Melbourne. As well as having Debby Blakey, CEO of HESTA, speak about their long-standing support of WIS, we were also honoured to have Helen Hewett join us, one of the original four founding members of Women in Super.
Despite only having been in the super industry for a short time, Joanne Faggian was awarded the WIS Mavis Robertson Professional Development Scholarship this year and her experience and knowledge gained from the course she completed as a result will continue to benefit her and her organisation.
WIS NSW closes the year with inspiration from Rabia Siddique.
Sophie Horwood has been involved with WIS for many years - inspired by the mission, philosophy and values, she has sought opportunities to get involved and make a difference, leading to her playing an active part in both the WIS SA and Mothers Day Classic Committees.
Since joining the super industry, Alex Judd has found one of the great perks is being a WIS Member. “Through the WIS community I have had so many opportunities to get involved in many projects that help others, and help move our industry forward.”