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Self-funded top ups alone won't solve superannuation gender gap



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Senator Larissa Waters Senator for Queensland   Media release   Monday, 26 October 2015   Self‐funded top ups alone won’t solve superannuation gender gap   To close the superannuation gender gap the Turnbull Government needs to help all women, not just those who can afford to top up their super, say the Australian Greens.   Senator Larissa Waters, Australian Greens Deputy Leader and spokesperson for women, who has co‐sponsored a Senate Inquiry into women’s retirement incomes, said:     “While it’s great the government is looking at options to close the super gender gap, simply encouraging women to top up their super will only help the small number who can afford that.                                                                                                                                                                                                                                                          “The government is out of touch if it thinks that new mums or carers returning to work or have spare cash to top up their super.   “If the government wants to help women struggling financially to save for retirement, it should at the very least bring back the low income super contribution.                                                                                                                                                                                                                                                          “Tony Abbott scrapped the low income super contribution from 2017, which will hurt half of all working Australian women and 80 per cent of women working on a part‐time or casual basis.   “However there is an opportunity for the Turnbull Government to heed the widespread calls for deeper superannuation tax reform.   “The Greens’ door is open to discuss our plan for progressive superannuation tax rates which close tax loopholes for the very wealthy and would tax low income earners’ super less, increasing their balances,” Senator Waters said.   Contact - Monique Vandeleur 0419 626 725