It’s time for the government to address the gender pay gap say Super experts

Last month the NSW government announced its plans for the Women’s Economic Opportunities Review. Premier Dominic Perrottet said the review will focus on supporting women to enter, re-enter and stay in the workforce.

Now, just ahead of International Women’s day, industry experts are recommending the review focus on the factors that contribute to the gender pay and superannuation gap.

Women’s Economic Opportunities Review

AIST CEO Eva Scheerlinck said the NSW Government should use its Women’s Economic Opportunities Review to improve the quality of women’s lives. Scheerlinck suggests the review should consider initiatives that support women in the workforce – while they are in it, out of it and returning to it.

“The Workplace Gender Equality Agency’s 2020-21 employer census showed women still earn 23 per cent less than men. This not only contributes to the large difference in the retirement savings but also the wellbeing of women,” Scheerlinck said.

Homelessness on the rise for women

Scheerlinck says recent statistics show an alarming increase in the number of women facing homelessness. Women are now the fastest-growing group of homeless people in Australia. Scheerlinck suggests that gender equity and the super gap are contributing factors.

“AIST welcomes the NSW Government’s announcement that it would identify opportunities to reduce income and superannuation gaps and improve access to and the affordability of childcare. This would lift women’s workforce participation, incomes and super,” Scheerlinck said.

“As a large employer, the NSW Government can make a big difference to the lives of its female employees. Not only through job creation, salaries, wages, superannuation and childcare but through other measures.”

Time to focus on government employees

“This means also removing gender pay gaps in the NSW public service, introducing super on paid parental leave to ensure women don’t fall further behind while they are out of the workforce, supporting the increase in the superannuation guarantee to 12 per cent by 2025, and encouraging men to share care responsibilities by taking paid parental leave.

“As we head toward International Women’s Day on 8 March it’s clear a lot more needs to be done to help women. With this review, the NSW Government has a great opportunity to convert promising words into effective action.”

Gender parity needed

Treasurer Matt Kean said the 2021-22 NSW Intergenerational Report found the economy would be eight per cent larger by 2060-61 if women’s participation reached parity.

“Women are underrepresented in our trades, our offices, and our boardrooms. For the State to be more productive we need everyone who wants to work to be able to do so,” Kean said.

“I want to make sure a girl born today has the same opportunities as a boy born in the hospital room next door, which has not been the case for their mothers and grandmothers before them.”

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