Super rules must support women: AIST

The Australian Institute of Superannuation Trustees renewed calls for superannuation legislation to be stepped up to close the gender gap in retirement savings.

AIST chief executive Eva Scheerlinck outlined the body's four-step plan to address the issue of women retiring with 47% less than men.

"The longer the Government waits to address the gender savings gap, the more women will retire with inadequate incomes," Scheerlink said.

The first of AIST's demands is that the $450 monthly threshold for compulsory super payments be dropped, to bring more women into the fold.

The second is that have parental leave payments made eligible for super.

"This is the only form of leave that doesn't attract super," AIST said.

AIST wants the Government to stick to its legislated timetable to move the super guarantee to 12%, given how important it is to women.

"Finally, providing low income earners, most of whom are women, with an additional super contribution as outlined by the Women-in-Super advocacy group," Scheerlinck said.

"Modelling shows this would make the biggest difference to closing the gender retirement gap."

Read more: AISTAustralian Institute of Superannuation TrusteesEva ScheerlinckWomen in Super
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