The UK needs to recognise that the gender pension gap is problem and innovate to address it
The proposal by the Association of Superannuation Funds of Australia (ASFA) for women to receive a $5,000 superannuation bonus when they become a parent in an effort to close the gender pension gap is sound
I’m pleased too, that Sue Ferns of Prospect Union has spoken out on this here in the UK.
“The gender pension gap in the UK, 37.9% last year, is twice the gender pay gap and needs to be addressed as a matter of urgency with long-term policy changes.
It is good to see Australia looking at innovative ways to address this with ASFA’s proposed $5,000 superannuation bonus for women when they become a parent.
On its own it is not nearly enough, and indeed the Gender Pension Gap is about more than simply having a family, but it is this kind of thinking – recognising the problem and looking at specific ways to address it – that is also needed in the UK.
First on the agenda should be the government publishing its own numbers on the gender pension gap so it can be used to frame policy going forward.”
We’ve had enough talk on the pension gender pay gap, how about some action on this from the DWP and a proper policy laid before parliament by the end of this parliamentary term?
Are you ready to talk to the Treasury, Guy Opperman? I’m happy to take the fiscal consequences!