MEDIA RELEASE - 19 Sep. 2018


A GOOD 1st STEP TO ADDRESSING WOMEN’S FINANCIAL INSECURITY

SYDNEY 19 September 2018 - the Women’s Electoral Lobby (WEL) welcome Labor’s policy announcement today to address a key contributor to Australian women’s financial insecurity.

WEL NSW Convenor Philippa Hall is encouraged by Labor’s recognition of this serious gap in women’s financial insecurity stating, “Women retire with only 60 per cent of the retirement savings of men, superannuation parity is critical to women’s financial security.

WEL supports this recognition and commitment by Labor, and encourages all political parties to develop and implement comprehensive policy commitments to redress the levels of financial insecurity for women.

“This is a good step in the right direction to address the obvious gaps to address women’s financial insecurity.

We encourage our political parties to deliver comprehensive policy platforms to address all of the areas of inequality that contribute to women’s financial insecurity. 

Australia needs to be a country that values equal participation in society, and it requires leadership to deliver economic and social policies that ensure there are no barriers for any woman experiencing economic insecurity.

“Financial security for women requires wages equality, recognition of the impact of parental leave on savings and income earning continuity, and access to superannuation in a consistent continuum throughout their career without financial penalty.

“Government plays a significant role in implementing the right policy settings in our financial, social service and employment policy areas to immediately address these gaps. 

“Failure to address these significant gaps will see immediate increases in women’s homelessness and dependence on social services and pensions. It will also see an increased negative impact on all associated health and wellbeing indicators for women.

“If more than half our population is impacted by adverse policy settings contributing to their financial security, WEL urges all political and business leaders to see common sense and prioritise this as a key economic issue for Australia,” concluded Ms Hall.

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Available for comment: Philippa Hall – M: 0466 273 308 E: [email protected] 

About Women’s Electoral Lobby (WEL) NSW:

Women’s Electoral Lobby is an independent, non-party political feminist lobby group that for over 45 years has worked tirelessly to improve the position of women in society.