Super withdrawal proposal risks gender economic abuse: WIS
Industry organisation, Women in Super, has raised concerns over the proposal allowing withdrawal of superannuation to purchase a home, saying it increases the risks of economic abuse for single and divorced women.
Women in Super chief executive, Jo Kowalczyk, said the proposal shines a light on the inadequate funding for crisis support and affordable housing that is unable to support single and divorced women and may result in them falling into poverty or having to endure violence.
“The shortfall in funding for women who have separated, for affordable housing and crisis support, must be urgently addressed,” she said.
“Women should not be forced to rob from their economic security in retirement in order to leave a bad relationship.”
“The proposal would effectively take Australian women back to the situation before the introduction of a universal superannuation system, where super was the preserve of men and older single women were expected to survive on the Age Pension alone.”
Kowalczyk said the proposal could enable the economic abuse of even more women by former partners, pressuring them to withdraw from their retirement savings. According to Women in Super, 16 per cent of Australian women have been subject to economic abuse by an intimate partner.
“There is no way to protect women from the risk of economic abuse under this proposal,” Kowalczyk said.
I don't understand how this meets the requirements of the Corps Act. I might just test it out. What is…
A new world is coming one way or the other (assuming CAR gets done) And unfortunately INSTO's are doing what…
So from what I understand, this Robo rubbish is limited to Single user, single product CFS Super only info. And…
Yeah good luck getting state based RE agents licensed like Financial Advisers. It will never happen. It should but it…
Lack of regulation in property over many years is one of the reasons that the market is so out of…