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11.4.2.3 Independent Review Panel
Finally, COTA Australia stresses that to understand the complexities that underpin
retirement income in Australia, independent and holistic commission should be
established (McGrath 2015). They argue that a retirement income review should be
composed of an independent chair and expert members: the committee should be
tasked with reviewing all aspects of superannuation and retirement policy. The
review committee should further be tasked with evaluating and optimising retirement income policy in Australia (McGrath 2015).
In sum, this chapter has considered how SDG 10 can be utilised to give space and
mobility to the dismantling of systemic barriers that exist within superannuation
policy in Australia. The central conclusion arising from this section is that there is
scope to employ sub-targets 10.2, 10.3 and 10.4 of SDG 10 to achieve sufficient
financial equality in retirement for women in Australia. Critically, this conclusion is
intrinsically connected to the central argument of this chapter, that is, within the
framework of the sustainable development goals, there is ample scope to use the
direction of SDG 10 to develop a national agenda which will ameliorate financial
security for women in retirement.
11.5 Impact Sustainability: Final Remarks
11.5.1 Cultivating a Sustainable Impact: Improving Gender
Equality in Retirement Through SDG 10
This chapter was primarily concerned with understanding female financial security
in retirement – particularly with regard to the gender gap in superannuation balances. The first section of this chapter outlined Australia’s retirement and pension
system. The critical conclusion arising from this section was that the shift towards a
greater emphasis on self-provision in retirement is limiting to women. This is
because the current structure of superannuation policy in Australia privileges a fulltime and uninterrupted career trajectory; however, women are often handicapped
from achieving an equal superannuation balance as men as they are more likely to
take on unpaid care work, work in a reduced capacity (fewer hours), or leave the
workforce all together. Critically, this conclusion leads to the second section of this
chapter which offered a more in-depth explanation as to why women are disadvantaged in achieving sufficient superannuation balances for retirement. Pivotally, this
section emphasised that the confluence of associated variables means that the gap in
women’s retirement income can be considered a wicked problem. This section of
the chapter investigated four overarching factors that inhibit the ability of women to
accumulate equal super balances: the gender wealth gap, the gender pay gap, gendered occupational segregation and the care penalty. The conclusion arising from
this section was that female financial insecurity is multifaceted and thus demands a
C. Power
11.4.2.3 Independent Review Panel
Finally, COTA Australia stresses that to understand the complexities that underpin
retirement income in Australia, independent and holistic commission should be
established (McGrath 2015). They argue that a retirement income review should be
composed of an independent chair and expert members: the committee should be
tasked with reviewing all aspects of superannuation and retirement policy. The
review committee should further be tasked with evaluating and optimising retirement income policy in Australia (McGrath 2015).
In sum, this chapter has considered how SDG 10 can be utilised to give space and
mobility to the dismantling of systemic barriers that exist within superannuation
policy in Australia. The central conclusion arising from this section is that there is
scope to employ sub-targets 10.2, 10.3 and 10.4 of SDG 10 to achieve sufficient
financial equality in retirement for women in Australia. Critically, this conclusion is
intrinsically connected to the central argument of this chapter, that is, within the
framework of the sustainable development goals, there is ample scope to use the
direction of SDG 10 to develop a national agenda which will ameliorate financial
security for women in retirement.
11.5 Impact Sustainability: Final Remarks
11.5.1 Cultivating a Sustainable Impact: Improving Gender
Equality in Retirement Through SDG 10
This chapter was primarily concerned with understanding female financial security
in retirement – particularly with regard to the gender gap in superannuation balances. The first section of this chapter outlined Australia’s retirement and pension
system. The critical conclusion arising from this section was that the shift towards a
greater emphasis on self-provision in retirement is limiting to women. This is
because the current structure of superannuation policy in Australia privileges a fulltime and uninterrupted career trajectory; however, women are often handicapped
from achieving an equal superannuation balance as men as they are more likely to
take on unpaid care work, work in a reduced capacity (fewer hours), or leave the
workforce all together. Critically, this conclusion leads to the second section of this
chapter which offered a more in-depth explanation as to why women are disadvantaged in achieving sufficient superannuation balances for retirement. Pivotally, this
section emphasised that the confluence of associated variables means that the gap in
women’s retirement income can be considered a wicked problem. This section of
the chapter investigated four overarching factors that inhibit the ability of women to
accumulate equal super balances: the gender wealth gap, the gender pay gap, gendered occupational segregation and the care penalty. The conclusion arising from
this section was that female financial insecurity is multifaceted and thus demands a
C. Power