FSU – Super system failing women

The ACTU supports the FSU in pushing for changes to superannuation contributions to ensure that there is no gap in contributions while workers are on carers or parental leave.

The superannuation system is one of the great achievements of the Australian union movement but it was designed many years ago and fails to take into account the needs of modern working people, especially women, who need to take time out of work for caring and parenting responsibilities.

Quotes attributable to ACTU President Ged Kearney:

• “We need to change the rules to ensure that all working people have a comfortable retirement.”
• “The superannuation rules are failing women. Women on average retire with 47% of the super a man does.”
• “We know that 85% of Australians have some form of caring responsibility, and many have to take time away from work to care for others.”
• “It is categorically unfair that people with caring responsibilities, who spend months or years caring for others, should have a less secure retirement because of that.”
• “The superannuation system needs to be brought up to date and made fit for purpose in 2018.”
• “The work the FSU is doing on this issue is fantastic but we need systemic change so that all workers can benefit.”