Joint Remarks on Superannuation from ERA and NWSA
National Women’s Safety Alliance (NSWA) and NWSA welcome the passage of the Anti-Discrimination and Human Rights Legislation Amendment (Respect at Work) Bill 2022, which extends reporting requirements to Federal public sector agencies and the introduction of the Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Bill 2023 to parliament this month. If passed, this Bill will address the above recommendation.
A combination of factors affect women’s lifetime economic security and make it more likely that over a lifetime, women will earn less than men, be less likely to advance their careers as far as men and accumulate less superannuation and savings than men. These factors combine to result in women being more likely to live in poverty in retirement. Single women, in particular, are over-represented in the population below the poverty line and more likely to be financially vulnerable than the general population. Women are also over-represented as victim survivors of family, domestic and sexual violence impacting their ability to participate fully in the work force and can impact future earning potential through early exposure to trauma.. But in the event that it doesn’t pass or is amended to remove this provision, we will continue to make this recommendation.