Queensland mothers have missed out on almost $320 million in retirement savings because the government refuses to pay super on its parental leave scheme.
Industry Super Australia analysis shows more than 280,000 Queensland mothers have received Commonwealth Paid Leave Pay in the last 10 years, but while they took time out of paid work to raise children, they were being made to sacrifice their retirement savings leaving them thousands worse off.
This hidden super sting could cost a mother of two $14,000 from their final retirement savings.
Overwhelmingly it is women that are missing out, 99.4% of the state’s Commonwealth Parental Leave Pay applicants were women and just 0.6% men.
*The above material, whilst correct at the time of publication may include references or statements which are no longer current.