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flag Australian government introduces bill to boost parents' superannuation on top of paid parental leave, aiming to close the retirement savings gap between men and women.

flag The Australian government introduced a bill aimed at closing the retirement savings gap between men and women by providing new parents with 12% superannuation on top of government-funded paid parental leave starting from July 2025. flag This initiative, expected to benefit around 180,000 families annually, will ensure parents using government-funded leave enjoy the same benefits as those receiving employer-funded superannuation. flag The move is intended to combat the "motherhood penalty," which causes women, who often retire with 25% less superannuation than men, to face a 55% drop in earnings during their first five years of parenthood.

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