Women in Super prepared this submission in response to calls for comment on the consultation paper, ‘Early release of superannuation benefits: Under compassionate and financial hardship grounds and for victims of crime compensation’ released by Treasury.
Submission on Gender Segregation in the Workplace and its Impact on Women’s Economic Equality March 2017
Women in Super have provided this submission to the Senate Finance and Public Administration References Committee. WIS is supportive of this inquiry and believes that addressing factors relating to gender segregation in Australia will lead to higher levels of participation by women in the economy and workplaces nationally. It will also lead to higher levels of financial security, retirement, health, happiness and overall wellbeing.
Women in Super (WIS) have provided this submission to the Senate Economics Legislation Committee on the issue of non- or late payment of the Superannuation Guarantee (SG). WIS is supportive of this inquiry and recommends that further study and analysis of the gender impact of non-payment of the SG is conducted to fully understand the types of sectors and jobs most affected as well as further investigation into the impacts of late payment of the SG. WIS has also suggested that data sharing amongst statutory bodies and employers and superannuation funds could help to mitigate instances of non- and late payment of the SG. WIS has taken this opportunity to remind the Committee of the impracticalities of the $450 minimum monthly earnings threshold and reminded them to consider the extension of the SG to the self-employed sector.
Women in Super have provided the above submission to the Senate Economics Legislation Committee in regards to the proposed Superannuation (Objective) Bill 2016. In summary, WIS supports the concept behind developing primary and subsidiary objectives of superannuation to help provide clarity. However, WIS does not support the proposed Primary Objective of Superannuation. The absence of a reference to adequacy or the standard of living we expect in retirement means any ‘statement of compatibility’ can ignore qualitative outcomes and the absence of specific reference to women means the impact of changes on the superannuation gender gap will not be analysed. WIS continues to be concerned about the persistently inequitable superannuation outcomes experienced by women and their high levels of Age Pension dependency and poverty in retirement.
Domestic Violence Employer Charter October 2016
Women in Super has advocated for better retirement outcomes for women for more than 20 years and during the 2015 Conference of Major Super Funds, we resolved to make a contribution to addressing family violence as part of this commitment. The Women in Super Domestic Violence Working Group developed the Charter that was launched during the 2016 National Road Show which featured Rosie Batty as the keynote speaker. Rosie highlighted the importance of taking a stand against family violence and the Women in Super Domestic Violence Charter gives employers in the industry a chance to do so.
WIS welcomed the opportunity to make a submission to the Australian Government on the Objective of Superannuation Discussion Paper. WIS makes comments in the context of our objective of improving the retirement income outcomes of women, and the issues that most affect women in interacting with the superannuation and retirement incomes systems.
Our 2016/17 pre-budget submission recommendations include better targeted super tax concessions; adequate Age Pension; focus on older Australians and enabling them to 'catch up' on missed years of super due to caring responsibilities; an increase in SG to 12% and a gender lens to proposed changes so the impact on women is understood.
In August 2015 a Senate Inquiry into Women's Economic Security in Retirement was launched under the stewardship of Sen.Jenny McAllister. In addition to appearing before the Senate Inquiry in October 2015, Women in Super lodged a comprehensive submission with our recommendations for how the current superannuation, tax and benefits systems can be improved for women.
Better Regulation and Governance, Enhanced Transparency & Improved Competition in Superannuation Submission February 2014
Submission to The Treasury on the governance structures of superannuation funds.
Submission to Treasury regarding the repeal of the MRRT, including the repeal of the Low Income Superannuation Contribution (LISC) and the re-phasing of the nine-12 per cent SG increase.
Charter of Superannuation Adequacy and Sustainability and Council of Superannuation Custodians June 2013
Submission to Treasury on the development of the Charter of Superannuation Adequcy and Sustainability and the creation of a Council of Superannuation Custodians.
Paid Parental Leave Scheme Review Submission June 2013
Submission to the Department of Families, Housing, Community Services and Indigenous Affairs' review of the Government's Paid Parental Leave Scheme, under the Paid Parental Leave Act 2010 (Cth).