The Australian Institute of Superannuation Trustees (AIST) has recommended the NSW Government focus its women’s economic review on the factors that contribute to the gender pay and superannuation gap and ensure it improves the quality of women’s lives.
AIST CEO Eva Scheerlinck said the NSW Government should use its Women’s Economic Opportunities Review to consider initiatives that supported women in the workforce and while they were out of it, and helped them to return to and stay in it.
“The Workplace Gender Equality Agency’s 2020-21 employer census showed women still earn 23% less than men, which not only contributes to the large difference in the retirement savings of men and women but also the wellbeing of women,” Ms Scheerlinck said.
“Disturbingly, women are the fastest growing group of homeless people in Australia, which makes it more important than ever that governments do whatever they can do to provide them with the quality of life they deserve.
“AIST welcomes the NSW Government’s announcement that it would identify opportunities to reduce income and superannuation gaps and improve access to and the affordability of childcare, which would lift women’s workforce participation, incomes and super.
“As a large employer the NSW Government can make a big difference to the lives of its female employees not only through job creation, salaries, wages, superannuation and childcare but through other measures.
“This means also removing gender pay gaps in the NSW public service, introducing super on paid parental leave to ensure women don’t fall further behind while they are out of the workforce, supporting the increase in the superannuation guarantee to 12% by 2025, and encouraging men to share care responsibilities by taking paid parental leave.
“As we head toward International Women’s Day on 8 March it’s clear a lot more needs to be done to help women and, with this review, the NSW Government has a great opportunity to convert promising words into effective action.”
