O’Dwyer flags women’s economic security statement
The Federal Government has signalled a targeted initiative – an economic security statement – aimed at women to be launched in September this year which is likely to have superannuation implications.
The so-called economic security statement has been flagged by the Minister for Revenue and Financial Services, Kelly O’Dwyer who framed it against the background of women having substantially lower superannuation balances than men.
The minister indicated that tonight’s Budget was likely to “build the steps” around the September economic security statement.
O’Dwyer acknowledged that the statement would touch on issues including the pay and superannuation gaps endured by women and the fact that their median superannuation balance was around 42 per cent less than men.
“So all the things that we can do to be able to help women to be able to save for their retirement - because women, happily for all those women out there, live a lot longer than men - all that we can do to actually help them to be able to prepare for their retirement will be a good thing,” the minister said.
Recommended for you
Government has introduced a bill to Parliament to legislate the first stream of the QAR reforms.
ASIC now has a 1:1 ratio when it comes to court success in the enforcement of crypto activities and more action is expected as Treasury seeks to introduce a regulatory framework.
A leading governance body has hit out at “specialist interest groups proposing ad hoc law reform” when it comes to reforms of financial services legislation and believes an independent body is needed.
The release of ALRC’s final report into financial services legislation has highlighted financial advice as a “significant” focus as it seeks to reduce costs and help advisers understand their obligations, alongside the Quality of Advice Review.
