Women need 7% more superBY JAMES FERNYHOUGH | FRIDAY, 2 AUG 2013 12:30PMWomen's superannuation contribution rates would need to be 7% higher than men's in order to achieve gender equality, a study has found. Related News |
Editor's Choice
Super Members Council appoints inaugural chair
|The Super Members Council (SMC) will soon welcome Ann Sherry as its first chair.
Generation Development Group to take over Lonsec
|Lonsec Holdings will have a new parent company as Generation Development Group (GDG) is due to acquire the remaining stake in the research and ratings house.
Equip Super names chief experience officer
|Equip Super appointed its inaugural chief experience officer (CXO), previously at legalsuper.
APRA warns entities on adequacy of backup systems
|APRA has reminded its regulated entities of the need to remain vigilant when it comes to cyber resilience, identifying the use of data backups as a weak spot.
Further Reading
Sponsored by | Know the facts about lifetime annuitiesSaving for a happy retirement is Australia's #1 financial goal. Learn how LifeIncome can deliver more income, certainty, & choice. |
Products
Featured Profile
Jason Huljich
JOINT CHIEF EXECUTIVE OFFICER
CENTURIA CAPITAL LIMITED
CENTURIA CAPITAL LIMITED
A single decision can change your life, and that's exactly what Centuria Capital joint chief executive Jason Huljich learned when he came to Australia in the 1990s. Eliza Bavin writes.
The real issue here still seems to be one of equal pay for equal work. Its ridiculous in this day and age that women are still paid less for doing the same job. This needs to be fixed yesterday, as it is a very real form of discrimination. The rest though is really about choices. Hard choices to be sure, and I don't trivialise them. But choices rarely come without cost, and reduced superannuation saving after taking 5 years off work, would be one of them.
As for whether women should try to make up the gap by adjusting for higher risk investment strategies - that is a very slippery slope, fraught with uncertainty, and possibly inappropriate in many circumstances. Whether it spans the social equity gap depends on whether the assumptions you've made while constructing models in the safety of theoretical ruminations hold true.
Alternatively, women could insist that during their maternity leave, their partner's superannuation is equally split between the couple's funds.