In a bid to improve retirement outcomes for Australian women, the government has recently announced that it will commence paying super on Government Paid Parental Leave (PPL), along with other changes to expand the PPL. This follows appeals from unions and women’s rights groups, and a growing body of research which highlights a significant disparity in retirement savings between genders. Data indicates that women, on average, retire with 25% less in their superannuation accounts compared to men, a gap attributed to periods spent out of the workforce for child-rearing.
