The Morrison Government has an opportunity to finally deliver on a key commitment to women this week by fulfilling its promise from the 2021 budget to remove the $450 threshold on employer super contributions.
The threshold currently denies low-paid working women $59 million in super contributions every year, with 200,000 women receiving no super at all thanks to the threshold.
After announcing its intention to remove the threshold in the budget the Morrison Government waited until the end of 2021 to signal that it would be making the change in parliament, before backing down and kicking the issue into another year. This issue is critical in addressing the gender gap in the superannuation system which currently means women retire with half the superannuation of men.
Quotes attributable to ACTU President Michele O’Neil:
“The removal of the threshold is a critical step in closing the gender gap in superannuation, and one which has been promised and re-promised by this government for almost 12 months. The time for action is well overdue.
“The Morrison Government cannot delay again, or hide behind the shortage of sitting days that it has created for itself. This issue can be dealt with this week, women lose money every day that this barrier stays in place.
“This is an overdue and important reform but much more is needed to ensure that the superannuation system provides a comfortable retirement for all Australian workers.”
