Business Council Chief Executive Bran Black said paying the superannuation guarantee on the government’s paid parental leave scheme will assist in closing the gender gap on super balances at retirement and support the long-term financial security of women.
Mr Black said the BCA has long called for the government PPL scheme to include superannuation.
“These reforms will assist in closing the gender divide on superannuation balances at retirement,” Mr Black said.
“This reform should be part of a broader strategy in boosting participation, productivity and real wages.
“Data from the Workplace Gender Equality Agency shows that 81 per cent of companies that offer paid parental leave also pay superannuation as part of their entitlement.
“Adding superannuation contributions to the government payment is the right thing to do for both women and the economy.”
The BCA’s pre-budget submission urges for further reforms to enable women to catch up on superannuation lost due to time out of the workforce.
You can read our Pre-Budget Submission here.
