Economic security for women in retirement
On 17 August 2015, the Senate referred the matter of the economic security for women in retirement (the inquiry) to the Senate Standing Committee on Economics (the Committee) for inquiry. The inquiry has resulted from a motion in the Senate in August 2015 by Labor Senator Jenny McAllister, requesting that the Committee investigate the retirement income gender gap which is affecting most women in the Australian working population:
‘The Senate notes that, although women’s increasing workforce participation has contributed significantly to Australia’s economic productivity and to women’s financial independence, significant socio-economic disparity remains between men and women, illustrated by the pay gap between men and women which sits at 18.8 percent and the gap in superannuation at retirement is 46.6 percent . . .’
Senator McAllister’s motion was passed with the support of Liberal Senator Sean Edwards and Greens Senator Larissa Waters.
Currently the inquiry is accepting submissions which it will continue to do until the closing date for submissions which has been set as 30 October 2015. For more information visit the Australian Parliamentary website