First State Super reinforces support of women’s initiatives

First State Super is a sponsor of today’s NSW Women of the Year Awards, as it uses this year’s International Women’s Day to reinforce its support of a number of initiatives aimed at progressing women.

Chief executive Michael Dwyer saying that the Awards “are [an] important reminder to us of the contribution of women and of the continuing need to strive for equality.”

The Awards, run by the NSW Government, would be presented later today and honour the achievements of women who have made significant contributions to their communities.

First State Super also endorsed the United Nations Women’s Network theme of “leave no woman behind,” and supported Women in Super’s Make Super Fair movement.

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The Make Super Fair campaign advocates that the Federal Government should:

• Make an additional annual contribution of $1,000 for low income earners
• Increase the superannuation guarantee to 12 per cent
• Remove the $540 monthly income threshold on compulsory contributions; and
• Ensure that any legislative change regarding superannuation assesses its impact on women.

Dwyer said that First State Super’s support of these initiatives was important in supporting the women the fund provides superannuation and financial planning services to, which number at over 500,000.

“Currently, women retire with around half the superannuation savings of men and around 33 per cent of women retire with no super at all.   While we understand how this gap starts, and widens, we also know what can be done about it,” he said.

“Advice changes lives and we see the impact that trusted financial advice, education and support can make.

“We provide superannuation and financial planning services to over 500,000 women, many of whom work in health, policing, education, emergency services and other roles caring for the community,” Dwyer said.

“These women make a significant contribution to the wellbeing of others, and to the economy, and it is our privilege to help them achieve the retirement income they deserve.”