The Australian Institute of Superannuation Trustees (AIST) has questioned the Federal Government's commitment to helping women after it buried important legislation that would boost their low superannuation balances near the bottom of its daily parliamentary program.
AIST CEO Eva Scheerlinck said the decision to relegate a bill removing the $450 monthly salary threshold for superannuation contributions was disappointing.
The Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021 is listed as one of the last orders of the day in the House of Representatives today and not listed in the Senate Order of Business.
"The bill was announced in the 2021/22 Budget last May, introduced to Parliament in October and listed for debate last week so to now discover it has been relegated is stunning and raises questions over the commitment of this Government to women," Ms Scheerlinck said.
"Coming just after the Prime Minister apologised for the treatment of women in Parliament House, the failure to prioritise this legislation is astounding and sends the wrong signal to those who would benefit most from this change, which are mostly women.
"The Government had an opportunity to make an immediate concrete difference to the lives of hundreds of thousands of women, and appears not to have given it priority in this sitting of Parliament.
"If the Government is as committed to making super fairer for all Australians as it claims, it must immediately progress the legislation."
Government figures show an estimated 300,000 people, or 3% of employees, earn less than $450 before tax in a calendar month with an individual employer, that they are mainly young, lower income and part-time workers, and 63 per cent of them are female.
"This bill is an important first step in a range of measures needed to address the difference in super balances between men and women, which leaves many women living in poverty in their retirement," Ms Scheerlinck said.
Other initiatives included introducing superannuation on paid parental leave and fixing the gender pay gap.
