Equipsuper is prepared to walk the talk when it comes to helping close Australia's gender savings gap, announcing it will pay superannuation guarantee contributions in to its employees' super accounts during paid and unpaid parental leave.
The decision is based around Equip's belief that a super fund should ensure its own employee benefit design demonstrated the same commitment it expects of the wider business community.
Equip executive officer strategic marketing and communications Geoff Brooks said "if we're talking to employer sponsors about the issue, then our own practices must reflect the fact that we're committed to not only helping employees to building their retirement savings through career breaks, but also to closing the gender pay gap, which is recognised as a primary driver of the gap between male and female savings."
Equip executive officer people and culture Sarah Guthleben said the fund had considered the enhancement in the context of its Move the Dial campaign to address the gender savings gap in super, but had decided that also including male employees in the arrangement better reflected the trend towards more men taking on nurturing responsibilities for young families.
"It means we're walking the talk in terms of helping close the gender savings gap created when women take breaks from work. However, our initiative not only recognises that some men are taking on family responsibilities, but that we can also encourage them to do so," Guthleben said.
It's widely reported the average difference in male and female earnings is a contributor to the gender savings gap across Australia but Equip said it does not apply to their employees, "for whom the salary structure is based on role and is agnostic to gender."
Equip's online Move the Dial campaign has, since its launch in August, attracted visits from nearly 4500 people who have been keen to use the comparator tool to see how their super savings stack up against men and women around their age. The campaign collected an award at the Australian Institute of Superannuation Trustees' (AIST) Awards for Excellence in November.