Liberal senator Jane Hume wants to tackle the “motherhood penalty” and allow couples to share their superannuation between them.
Hume said she would introduce a bill to parliament to address systemic problems in the superannuation system that disproportionately affect women, who can retire with up to 25 per cent less superannuation than men.
Liberal senator Jane Hume.Credit: Dominic Lorrimer
“That recognises that unpaid work, that taking time off work to look after children, the motherhood penalty that affects women’s superannuation balances. Now, it’s not compulsory. It’s entirely voluntary, but it’ll start those conversations between couples about how they can best manage their own affairs to reflect the family decisions that have been made,” Hume told Nine’s Today.
“It certainly will help older Australians that have quite different superannuation balances between husband and wife to help plan their retirement better and more effectively. It will potentially allow them to retire with more, and that, of course, will alleviate the pressure on the public purse from the age pension.”