Super Members Council

"When Coco* asked her former boss why she hadn’t been paid her super, she was told “not to worry, it’s paid quarterly”. But as time went by, and with red flags flying ominously, she felt helpless." #PaydaySuper Misha Schubert

Keep your super safe - cold calls from people offering advice about your super and pressuring you to switch funds are a red flag 🚩 If you get a call you weren’t expecting, hang up, block the number, and talk to someone you trust. Your super is worth protecting. Learn more: https://lnkd.in/eEJeJNTQ #Superannuation

Women are being made $26,000 poorer in retirement due to unpaid super. A new report by the Super Members Council has found women are being hit hard by the scourge of unpaid super, costing the typical working woman more than $26,000 less in savings by retirement. This feeds the gender super gap, which sees women retiring with a quarter less super than men. Learn more:

"In a country that prides itself on making major strides on gender equity, it’s shocking that one in four working women are being short-changed on their super each year." Read the full article from SMC CEO Misha Schubert:

Unpaid super costs the typical working woman in Australia more than $26,000 by retirement, new Super Members Council analysis shows. It’s yet another reason why #paydaysuper laws are urgent. Time to get this done ✔️ Women in Super Chief Executive Women (CEW) The Parenthood Rae Cooper Elizabeth Hill Georgie Dent Susan Lloyd-Hurwitz AM Helen Conway Melanie Fernandez Mary Wooldridge Libby Lyons Women's Agenda

We couldn't have said it better👏 In yesterday's issue of The Canberra Times, author Noel Whittaker said, "Superannuation is more than economic policy: it's a social contract. It asks people to forgo a small part of their present wealth for the sake of their future." #Superannuation Noel Whittaker The Canberra Times

We’re delighted to share that Nick Coates has joined the Super Members Council as our new Executive General Manager Policy Reform and Regulation.  Previously Head of Government Relations and Public Policy at AustralianSuper, Nick is deeply respected in the sector for his expertise and strong stakeholder relationships. His appointment further strengthens SMC’s ability to lead policy development for 12 million Australians. Welcome Nick! 🥳 Learn more about what we do: https://lnkd.in/e3bJQczK  

A landmark new report finds new middle and low-income retirees in the middle wealth group have been the biggest beneficiaries of compulsory super, with an extra $11,388 to spend each year on things they need or love like living costs, holidays and making memories with family.

Today, super funds often report the same data multiple times to different regulators, creating unnecessary duplication and driving up compliance costs. Higher system running costs erode member returns. We think a single-touch approach, where data is lodged once and shared across agencies, will cut red tape costs for members.

Did you know that actively managing your super can help to maximize its growth? 📈 Yeah!✅ Choosing the right fund, checking for unpaid super and making informed decisions about your super can help to positively impact your super (and retirement!) Read more: https://lnkd.in/eChjUmXz #Superannuation #HowSuperWorks