Terms of Reference

The Senate notes that, although women’s increasing workforce participation has contributed significantly to Australia’s economic productivity and to women’s financial independence, significant socio-economic disparity remains between men and women, illustrated by the pay gap between men and women which sits at 18.8 per cent and the gap in superannuation at retirement is 46.6 per cent; and
the gender retirement income gap be referred to the Economics References Committee for inquiry and report by the first sitting day in March 2016, with particular reference to:
1. the impact inadequate superannuation savings has on the retirement outcomes for women,
2. the extent of the gender retirement income gap and causes of this gap, and its potential drivers including the gender pay gap and women’s caring responsibilities,
3. whether there are any structural impediments in the superannuation system [impacting on the superannuation savings gap],
4. the adequacy of the main sources of retirement income for women, and
5. what measures would provide women with access to adequate and secure retirement incomes; including:
  1. assistance to employers to assist female employees’ superannuation savings,
  2. Government assistance, with reference to the success of previous schemes, and
  3. any possible reforms to current laws relating to superannuation, social security payments, paid parental leave, discrimination, or any other relevant measure.

Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3540
economics.sen@aph.gov.au