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Money management for women: spreading the word.



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Hon Judi Moylan MP

Minister for the Status of Women

 

JM53/98/sw

 

20 April 1998

 

MONEY MANAGEMENT FOR WOMEN - SPREADING THE WORD

 

Women will be able to obtain information on how to improve their lives once they retire, at a seminar in Sydney, to be opened by the Hon Judi Moylan, today.

 

"Women can suddenly find themselves out of the workforce for a period of time or without someone to support them. Women can't rely on someone 'looking after them' " the Minister said.

 

"Young women particularly, need support and encouragement from parents and friends to start thinking about these issues".

 

"The Government takes the issue of retirement planning very seriously and has introduced a range of measures to improve women' s retirement income".

 

These measures involve widening women's access to superannuation, particularly for women who make the decision to leave the paid workforce for a period of time to care for children.

 

The Government's new rebate for superannuation contributions made on behalf of a low income partner, will increase the number of women who have access to superannuation in their own right.

 

On 8 March 1998, the Prime Minister announced that the Government is working actively to introduce greater fairness and certainty in the treatment of superannuation following the dissolution of marriage. A position paper on proposed reforms will be released in coming months.

 

"These are very important steps for women and shouldn't be underestimated" said the Minister.

 

"The financial industry has an important role to play as well, in ensuring that their products, services and information are relevant to the reality of women's lives".

 

"The seminar today will not only provide an opportunity to raise the awareness of women' s groups to the financial issues facing women, it will also encourage them to promote similar sessions within their own organisations. That way we hope to reach thousands of women" the Minister added.

 

The Office of the Status of Women and the Association of Superannuation Funds of Australia are running the one day seminar for women' s non government women' s organisations and the financial industry.

 

Media enquiries:

Sandi Logan (02) 6277-7006