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Women underpaid $1.8b in super
Women eligible for the superannuation guarantee were underpaid $1.84 billion in super contributions by their employers in 2013 to 2024, according to Industry Super Australia (ISA).
ISA analysed the latest data from the Australian Tax Office (ATO) and found that, on top of the gender pay gap, women were also subject to unpaid superannuation entitlements, with the average underpayment of $1,550.
The study also revealed that women’s superannuation balances were on average a third lower than those paid correctly.
ISA said the superannuation balances in particular for women working for wages nearing retirement were “shockingly low”.
ISA public affairs manager, Sarah Saunders, said: “The failure of some employers to pay working women their super entitlements is a disgrace”.
“We need employers who offer flexibility, equal pay and family leave, a government whose tax structures and social policies are seen through the lens of quality, and a society that refuses to accept the feminisation of poverty.
“The government can start by enshrining ‘dignity’ and ‘security’ for all Australian in the objective of superannuation.”
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New research from Aware Super on the occasion of Equal Pay Day reveals Australia’s 13 per cent gender pay gap will equate to a $93,000 deficit in women’s super balances compared to men at retirement.
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