We used to raise children differently. To a son who had hurt himself: “C’mon, toughen up.” A daughter would get scooped up and comforted.
The parenting wisdom in a world where the sexes are now supposed to be equal is that the comments and cuddles need to be the same. And tone down the “you-look-so-pretty” focus on the physical.
The average woman still typically retires with a quarter less super than her male counterpart.Credit: AFR
Well, when it comes to money, equal opportunity requires unequal treatment. And gender-based – or biased – teaching. Last week, timed for International Women’s Day, we had the overdue but welcome announcement that paid parental leave will attract superannuation.
The move will alleviate – but not remove – the motherhood penalty with the payment of the 12 per cent super guarantee rate from July 1, 2025. Why don’t I say it will remove the penalty?
Because paid parental leave, remember, is only at the national minimum wage and only for 20 weeks between a couple. The payment will be about $105 a week and total $2500.
A carer – still often the woman – could then go on to earn no income for years and then not rejoin the paid workforce (having probably worked harder at home!) for years after that.
Repeated surveys show that single, retired women have the highest poverty rate in the country.
But super on parenting payments will make up a little of that damaging lost time towards the beginning of a working life. What it won’t make up for is the extra time at the end of it.
Women typically live roughly four years longer than men. And guess what? Pay parity is still not a thing. The average gender pay gap is running at 21.7 per cent, says the Workplace Gender Equality Agency (this calculation includes base salary, overtime, bonuses and additional payments).
The money advice I give my daughter, but not my son
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08.03.2024
We used to raise children differently. To a son who had hurt himself: “C’mon, toughen up.” A daughter would get scooped up and comforted.
The parenting wisdom in a world where the sexes are now supposed to be equal is that the comments and cuddles need to be the same. And tone down the “you-look-so-pretty” focus on the physical.
The average woman still typically retires with a quarter less super than her male counterpart.Credit: AFR
Well, when it........
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