Report reveals the $1.6 billion super sting on Australian mums
Published: 17 Sep 2021
Australia’s mothers have missed out on more than $1.6 billion in retirement savings because the government refuses to pay super on its parental leave scheme.
Up to 1.45 million mothers have received Commonwealth Parental Leave Pay in the last 10 years, but while they took time out of paid work to raise children, they sacrificed thousands in retirement savings. In the 2019-20 financial year alone 170,860 women missed out on $216.7 million in super payments.
Parental Leave is one of the only forms of paid leave that there is no requirement to pay super and the government does not pay the super guarantee on its scheme.