CXi to give SG contributions for maternity leave
Fintech firm, CXi Software, has announced it will pay superannuation contributions for any permanent staff member who goes on maternity leave.
The firm said the initiative was aimed at encouraging more women to work in the fintech industry and to make it easier for women to take maternity leave without the worry of interrupting their superannuation savings.
CXi managing director, Séamus Ó Concheanainn, said the maternity leave super guarantee contributions would be paid for up to 12 months or the staff member's return to work.
"It is a well-documented fact that taking maternity leave is a significant contributor to women having a significantly lower superannuation balance on retirement," he said.
"…while we promote full equality for all employees, we recognise that it is a social responsibility of all employers to address systemic inequities that work against any particular cohort of employees."
Ó Concheanainn said the firm recognised that there was a significant imbalance in the numbers of women employed in software development.
"But we are encouraged by the increasing proportion of female fintech founders — which must eventually result in a trickle-down effect on the workforce as a whole," he said.
CXi noted that it also indexes salaries of all staff taking parental leave so that there is no interruption to their earnings growth as a consequence of taking leave.
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