Australian public sector pay in sharp focus amid COVID-19 economic recovery brisbanetimes.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from brisbanetimes.com.au Daily Mail and Mail on Sunday newspapers.
9%
9.25%
9.5%
10%
10.5%
11%
11.5%
12%
This delay has had a knock-on-effect. According to 2017-18 data from the Australian Bureau of Statistics, the median super balance for people approaching retirement (aged 55-64) was $118,600 for women and $183,000 for men.
That falls short of the ASFA retirement standard, which sets out how much people should have in super for a comfortable retirement.
Raising the SG is intended to help close that gap, and make sure Australians are able to fund a comfortable retirement.
Short term income vs long term benefits
When it comes to superannuation, the conversation tends to hinge on one key question – what are we willing to sacrifice in the short term for future benefits?
9%
9.25%
9.5%
10%
10.5%
11%
11.5%
12%
This delay has had a knock-on-effect. According to 2017-18 data from the Australian Bureau of Statistics, the median super balance for people approaching retirement (aged 55-64) was $118,600 for women and $183,000 for men.
That falls short of the ASFA retirement standard, which sets out how much people should have in super for a comfortable retirement.
Raising the SG is intended to help close that gap, and make sure Australians are able to fund a comfortable retirement.
Short term income vs long term benefits
When it comes to superannuation, the conversation tends to hinge on one key question – what are we willing to sacrifice in the short term for future benefits.
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In recent weeks we have heard a great deal about the Federal Government’s commitment to women’s equality. A recent decision by the Fair Work Commission in a long-running equal pay case is an opportunity to show it means business.
The eight-year case for early childhood teachers, run by the NSW/ACT branch of the Independent Education Union of Australia (IEU), was in two parts.
The Commission granted a new five-level pay scale in the award, with pay rises of up to 10 per cent for early childhood teachers.
Credit:iStock
The first was a claim for an Equal Remuneration Order (ERO) for early childhood teachers employed in preschools and long day care centres, arguing that their pay was undervalued because of gender. The union compared these teachers, who are predominantly female and have four-year university qualifications, with male primary teachers and engineers.