The Money Project | Finance
The Money Project
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19.01.2022 Coming in 2019Coming in 2019
15.01.2022 It’s good news that women can catch up with their superannuation by the way of making voluntary contributions due to the changed rules in the Federal Budget 20...19 delivered by Treasurer Josh Frydenberg last night, says @Sandra Buckley, CEO of Women in Super, adding however: It’s a measure that only benefits a very small minority of Australians who are lucky enough to have a high income earning job or an inheritance windfall that they can direct to their super accounts. According to the latest results of a research undertaken by Rice Warner for Women in Super, less than one in four older workers made voluntary contributions. And then the average contribution was only around $7000 indicating that most Australians simply don’t have excess cash available to contribute to their super accounts. It’s really disappointing that nothing was included in the budget to boost the retirement savings of those who cannot afford voluntary contributions and are struggling to accumulate any super young Australians on low incomes and older women. We are in the midst of a crisis with more women than ever in their late 40s to early 50s facing impoverishment in retirement and yet again this issue is overlooked. "Another missed opportunity was the failure to remove the $450 threshold which prevents many women from accessing super and exacerbates the current situation whereby one third of women retire with no super at all," says Sandra. Please join our #makesuperfair campaign by leaving your email on www.makesuperfair.com.au
06.01.2022 The number of older homeless women in Australia increased by over 30% between 2011 and 2016 to nearly 7,000. We have an ageing population, a high cost of housin...g, and a significant gap in wealth accumulation between men and women across their lifetimes. Without innovative solutions, this problem will continue to increase. The onus shouldn’t be on women to fix the problem, especially when most don’t have the means to do so. #makesuperfair aims to raise awareness for the policy changes that need to happen to close the super gap. #superannuation #retirement #retirementoutcomes #women
02.01.2022 On 1 July, new laws come into effect with the aim of protecting individuals’ retirement savings from erosion by fees and insurance charges. These changes will s...ee inactive small accounts (under $6,000) transferred to the Tax Office, and insurance cancelled on inactive larger accounts. An account is deemed inactive if there have been no contributions for 16 months. Members should contact their fund if they have any concerns or need advice. See more
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