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2015-09-14

my retiement fund

CWU asks Decipha to pay women more in superannuation

The CWU has asked Decipha to pay its female employees 2% more in superannuation under a new enterprise agreement.

The union has also asked Decipha to continue to pay employer superannuation contributions while an employee (male or female) is on parental leave for up to 12 months.

While most employees receive the superannuation guarantee of 9.5%, women typically retire with significantly less super because they receive lower average wages, are often employed on part-time basis and take time out of the workforce to raise children or care for others.

In Decipha more than half the number of workers are women and more than two thirds of workers are in part-time jobs. Therefore as superannuation is linked to pay, female workers in Decipha who are engaged in part-time and low paid jobs are significantly disadvantaged when it comes to retirement savings.

Right now many women are living their final years in poverty. If we don’t act now more women will live in poverty when they retire.

Decipha can apply to the Australian Human Rights Commission to pay its female workers an extra 2% in superannuation.

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