Superannuation to be added to paid parental leave as part of federal budget in gender pay-gap pledge

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Budget News

Federal Budget,Paid Parental Leave,Parents

The federal budget measure — slated to begin in July next year — is a $1.1 billion promise over four years to help improve the retirement outcomes for working mothers.

About 180,000 families will soon be eligible to receive superannuation on top of their paid parental leave as part of a $1.1 billion budget pledge.About 180,000 families will soon be paid superannuation on top of paid parental leave , as part of the federal government's latest pledge towards bridging the gender pay gap.

"This budget continues our historic reform of paid parental leave by introducing a superannuation guarantee equivalent payment on government-funded paid parental leave for parents of babies born or adopted on or after 1 July, 2025. Government-funded paid parental leave would more than double in length, and the amount paid to parents would jump substantially, under new recommendations handed to the federal government.Ahead of the 2019 election, Labor had committed to including super on government PPL but at the last federal election the party ditched the proposal, citing costs.

The cash splash is part of a raft of budget plans aimed at improving gendered roles in unpaid care, with women spending 11 more hours per week, on average, caring for children, according to HILDA.

Federal Budget Paid Parental Leave Parents Family Budget 2024

 

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