169
multilevel approach. This conclusion broached into the final section of this chapter,
which used the SDG framework to explore how superannuation policy in Australia
can be ameliorated in order to mitigate the gap in retirement savings. With particular
reference to SDG 10 – reduced inequalities – the third section emphasised that tackling female financial security in retirement demanded a multi-pronged approach. To
this end, the final section utilised sub-target 10.2, 10.3 and 10.4 to explore mechanisms by which the gender gap in superannuation savings can be narrowed. Utilising
SDG 10.2 this section found that there is a greater need and impetus to empower
women and young adults through targeted financial literacy and education programmes, particularly, with information that will take into account the unique and
diverse life circumstances that women face. Finally, the latter section of the chapter
drew on SDG 10.3 and 10.4 to argue that discriminatory policies embedded within
the architecture of the superannuation system need to be addressed and dismantled.
Policy mechanisms that require amendment include increasing the low income
super tax offset (LISTO) contributions to $1000; paying superannuation during paid
parental leave; abolishing the $450 minimum threshold; and finally, establishing an
independent review panel. The central conclusion arising from this chapter is that
within the framework of the SDGs, there is both ample and sufficient scope to use
the direction of SDG 10 to develop a national agenda on improving female financial
security in retirement.
References
Agency WGE (2015) Submission – senate inquiry into economic security for women in retirement.
Retrieved from https://www.wgea.gov.au/sites/default/files/WGEA-Submission-Economic_
Security_for_Women_in_Retirement.pdf
Agency WGE (2017) Women’s economic security in retirement: insight paper. Retrieved from
https://www.wgea.gov.au/sites/default/files/insights-paper-womens-economic-security-inretirement.pdf
Agency WGE (2019a) Australia’s gender pay gap statistics, 22 February 2019. Retrieved from
https://www.wgea.gov.au/data/fact-sheets/australias-gender-pay-gap-statistics
Agency WGE (2019b) What is the gender pay gap? Retrieved from https://www.wgea.gov.au/
addressing-pay-equity/what-gender-pay-gap
Agnew J, Bateman H, Thorp S (2013) Financial literacy and retirement planning in Australia.
Retrieved from Sydney: https://financialcaptability.gov.au/files/report_financial-literacy-andretirement-planning-in-australia_2013.pdf
Ali P, Anderson M, Clarke M, Ramsay I, Shekhar C (2015) No thought for tomorrow: young
Australian adults’ knowledge, behaviour and attitudes about superannuation. Law Financ Mark
Rev 9(2):90–105. https://doi.org/10.1080/17521440.2015.1052667
Austen S, Ong R, Bawa S, Jefferson T (2013) Trends in the gender wealth gap among single
households in Australia 2002–2010. Retrieved from https://bcec.edu.au/assets/Trends-in-theGender-Wealth-Gap-Among-Single-Households-in-Australia-2002-2010.pdf
Australia TAoSFo (2018) ASFA retirement standard budgets review. Retrieved from https://www.
superannuation.asn.au/ArticleDocuments/269/2018-ASFA-Retirement-Standard-BudgetsReview.pdf.aspx?Embed=Y
11 SDG 10 Reducing Inequalities
multilevel approach. This conclusion broached into the final section of this chapter,
which used the SDG framework to explore how superannuation policy in Australia
can be ameliorated in order to mitigate the gap in retirement savings. With particular
reference to SDG 10 – reduced inequalities – the third section emphasised that tackling female financial security in retirement demanded a multi-pronged approach. To
this end, the final section utilised sub-target 10.2, 10.3 and 10.4 to explore mechanisms by which the gender gap in superannuation savings can be narrowed. Utilising
SDG 10.2 this section found that there is a greater need and impetus to empower
women and young adults through targeted financial literacy and education programmes, particularly, with information that will take into account the unique and
diverse life circumstances that women face. Finally, the latter section of the chapter
drew on SDG 10.3 and 10.4 to argue that discriminatory policies embedded within
the architecture of the superannuation system need to be addressed and dismantled.
Policy mechanisms that require amendment include increasing the low income
super tax offset (LISTO) contributions to $1000; paying superannuation during paid
parental leave; abolishing the $450 minimum threshold; and finally, establishing an
independent review panel. The central conclusion arising from this chapter is that
within the framework of the SDGs, there is both ample and sufficient scope to use
the direction of SDG 10 to develop a national agenda on improving female financial
security in retirement.
References
Agency WGE (2015) Submission – senate inquiry into economic security for women in retirement.
Retrieved from https://www.wgea.gov.au/sites/default/files/WGEA-Submission-Economic_
Security_for_Women_in_Retirement.pdf
Agency WGE (2017) Women’s economic security in retirement: insight paper. Retrieved from
https://www.wgea.gov.au/sites/default/files/insights-paper-womens-economic-security-inretirement.pdf
Agency WGE (2019a) Australia’s gender pay gap statistics, 22 February 2019. Retrieved from
https://www.wgea.gov.au/data/fact-sheets/australias-gender-pay-gap-statistics
Agency WGE (2019b) What is the gender pay gap? Retrieved from https://www.wgea.gov.au/
addressing-pay-equity/what-gender-pay-gap
Agnew J, Bateman H, Thorp S (2013) Financial literacy and retirement planning in Australia.
Retrieved from Sydney: https://financialcaptability.gov.au/files/report_financial-literacy-andretirement-planning-in-australia_2013.pdf
Ali P, Anderson M, Clarke M, Ramsay I, Shekhar C (2015) No thought for tomorrow: young
Australian adults’ knowledge, behaviour and attitudes about superannuation. Law Financ Mark
Rev 9(2):90–105. https://doi.org/10.1080/17521440.2015.1052667
Austen S, Ong R, Bawa S, Jefferson T (2013) Trends in the gender wealth gap among single
households in Australia 2002–2010. Retrieved from https://bcec.edu.au/assets/Trends-in-theGender-Wealth-Gap-Among-Single-Households-in-Australia-2002-2010.pdf
Australia TAoSFo (2018) ASFA retirement standard budgets review. Retrieved from https://www.
superannuation.asn.au/ArticleDocuments/269/2018-ASFA-Retirement-Standard-BudgetsReview.pdf.aspx?Embed=Y
11 SDG 10 Reducing Inequalities