The Really Simple Money team is proud to announce we will be supporting a campaign to persuade the government to pay mothers superannuation during maternity leave next year.
The campaign is backed by MLC and IOOF, the country’s largest providers of superannuation and financial, advice.
We are also supporting Undercover, an independent film which to be show at next year’s Melbourne and which will focus the nation on the problem of how women aged over 55 are the fastest growing group of homeless in Australia today.
You can see a clip from the film here – but beware, you’ll need Kleenex.
According to the Salvation Army, the huge wave of women left destitute because they have no superannuation is a “national disgrace”.
A number of issues conspire to make a mum’s lot harder in Australia than elsewhere in the world.
Expensive child care is one.
“This is the reason Australian mothers, who are better qualified and educated than their peers in other developed nations, are more likely to be in part time work than mums in those other countries.
“Sweden is well regarded as a world leader in terms of parenting policies. Before women have children, women in Australia participate in work to a higher degree than women in Sweden. After the birth of a child the pattern changes,” maintains Women’s Agenda.
The result is lower income – and less super contribution.
“Economic modelling by Equity Economics in Back of The Pack – How Australia’s Parenting Policies are Failing Women and Our Economy, shows that if an average Australian woman had the same workplace participation patterns after having children as an average Swedish woman, she would:
· earn an additional $696,000 over her working life; and
· retire with an additional $180,000 in superannuation.
When you consider that the average super balance of an Australian woman aged between 50 and 54 is $157,124, that additional $180,000 in super alone is radical and would dramatically change the picture for women in retirement.”
The result is that many women simply run out of money once they retire. In the worst cases, highlighted by the film, they end up sleeping in cars and dressing in public lavatories.
At Really Simple Money, we will be working to bring the inequality in super payment and child-rearing career breaks onto the national stage in what is shaping up to be an election fought on economic issues.
We plan podcasts, videos and national advertising to spread the word that women now need this situation addressed.
Business leaders and national figures have already expressed support.
We need your help.
The campaign next year presents the best chance in decades for this important issue to be resolved, ensuring another generation of women doesn’t have to endure the agony of homelessness and poverty.