Platform launched to top up super while spending

16 October 2019

Rewards platform, Super Rewards, has been launched to help women top up their superannuation through online spending, especially those who do not work or work part-time.

The customer could nominate their super account through the platform and were rewarded for everyday online purchases.

Co-founder, Pascale Helyar-Moray, said: “The simple reality is that the superannuation system was not built for women.

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“Super Rewards will allow women to top up their super, simply by doing their normal shopping and life admin.

“It’s the first step towards providing women with a more equal footing for retirement and, for many women, could be the difference between economic freedom or financial poverty.”

Sharen Page, finance and project officer with Economic Security4Women, said Super Rewards would have an immediate impact on a system that is struggling to support its citizens.  

“Our research shows that women of all ages hold a strong fear of experiencing poverty later in life. Superannuation is critical to the economic security and long-term wellbeing of women across the country,” she said.

“Super Rewards provides an immediate way to start addressing the current super crisis; allowing women to save for their future today.”

Over 100 brands such as Woolworths, The Iconic, hardtofind, and Freedom have signed up to the platform.

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This is like a cashback scheme for shopping that is paid to a Super Account rather than receiving cash. The earnings are not high unless an unusual high shopper but every little bit helps so that is a good idea.

I've signed up and had a long and the issues I have has that the earnings % are extremely low compared to other cashback schemes. i.e Good Guys earns 2.25% here where most other places earn 5% plus. I don't know how the commercials were arrived at but I can only summise that either additional commissions are taken by the platform than other provides of a similar service (which would not be good) or a deal with the retailers isn't as strong as other platforms have managed to negotiate.

Nonetheless, a good idea if better earns rates were offered.

So I gather these are non-concessional? Or concessional - does the 'provider' claim a deduction for making the contributions?

Interesting concept.

So is this just for women? If so, then that is sexism and discrimination; if not, this publicity and marketing is deceptive.

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