Liberal Senator for South Australia Sean Edwards said the forthcoming Senate inquiry into gender inequality in the superannuation system would examine the drivers that leave many retiring women with just over half the superannuation balance of retiring men.
“Women retire with half the superannuation of men as a result of many factors, such as reduced time in the workforce when they have children and the impact this has on remuneration generally. This represents a handbrake on our entire economy,” Senator Edwards said.
“The Senate Economics References Committee will examine the factors that lead to gender superannuation inequality and make recommendations as to their remedy,” he said.
“I am pleased the superannuation industry has welcomed the inquiry and I look forward to examining this complex issue with them and together developing some meaningful solutions to what is not just a problem for women but a problem for families and a problem economy wide,” Senator Edwards said.