Campaign launched to boost female awareness of super

A campaign has been launched to help women achieve a secure retirement after research and has found 49% of women doubt they will retire with enough wealth.

The poll of 2,000 voters also found 83% would support a political party that was able to make superannuation fairer for women.

Carried out by financial literacy website, Really Simple Money, it found 61% of voters were doubtful how much they would need for a comfortable retirement.

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A further 86% supported mothers being paid superannuation during parental leave, a topic that had been raised by the Australian Institute of Superannuation Trustees (AIST) and the Association of Superannuation Funds of Australia (ASFA).

Women had been particularly affected by the pandemic with over half of the 872,000 jobs lost during the pandemic belonging to women.

In light of the findings, the website had launched a campaign called SupaWomen, backed by Telstra and KPMG and would be speaking to industry leaders on the subject.

Its two main aims were:

  • Making it compulsory for women to receive super on paid parental leave; and
  • Arranging for women to be able to access education and advice to ensure they know how to save for an independent retirement.

Campaign leader Bernadette Chua said: “It’s almost a baby tax – women are penalised for having children, when we should be making it easier and getting them back into the workforce where they can be economically productive.”

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