Banks, unions, women’s advocates unite in call for super payments on parental leave

Banks, state governments and superannuation funds are among those calling on the federal government to pay super on paid parental leave amid new data showing the gender super gap almost triples before the average woman turns 40.

At the age of 25, the average woman has 9.1 per cent less in super than her male counterpart, but by the time she turns 39, the gap has grown to 24.6 per cent.

Paying the super guarantee on paid parental leave has been suggested by several groups.Credit:Louise Kennerley

This sharp divide only worsens later in life, with the gap peaking for average workers aged 55 to 59 years old at 40.4 per cent, the research from Industry Super Australia shows, leaving men retiring with $90,000 more in their super on average.

Women in Super, Industry Super Australia, AMP Capital, COTA Australia, the Financial Services Council, the Victorian government, the West Australian government, Maurice Blackburn lawyers, the Australian Council of Trade Unions and Chief Executive Women are among those who have called on the federal government to consider requiring the super guarantee to be part of paid parental leave in submissions to the retirement income review.


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