Why Super-Rewards was created: to address financial equalities for women

Unpaid work is the biggest contributor to financial equalities for women in Australia. There are 2.7 million unpaid carers in Australia, of which 1.8 million are women. Raising children, looking after the elderly and others in the community, domestic duties is all defined as unpaid work. If monetised, it would add another $2.2 trillion to the economy each year, according to a 2017 PwC report.

Super Rewards is our bid to monetise the $2.2 trillion of unpaid work in Australia, predominantly done by women.

How is women’s financial progress measured?

But how do we measure the progress – or not – of women’s financial inequalities? It can be difficult to understand how policy changes or workplace practices actually flow through and impact women, in a way that can be measured.

Thankfully, someone and something is doing this. The Financy Women’s Index (FWI), created by respected journalist Bianca Hartge-Hazelman, measures and analyses data points that impact Australian women’s economic progress on a quarterly basis. Data points are taken across education, employment, underemployment, the participation rate, unpaid work, wages, superannuation and representation on boards.

The latest women’s economic progress results

30 September 2019 results show that the FWI rose 0.6 points over the 3 months prior, taking the quarter end number to 124.8. What does this mean? Bianca summarises the changes as follows:
• The pace of progress slowed quarter-on-quarter, largely due to a dip in female directorships on ASX 200 boards.
• Index was helped by record highs in the female participation rate and female full-time employment numbers.
• Inequalities in the workforce may take up to 37 years to resolve and nearly 200 years to achieve gender balance in unpaid work.

The good news

The pay gap, as measured without factoring in total remuneration, appears to have improved to a new low of 14.02%. It is worth remembering that we have seen these levels before, and that Equal Pay was legislated in Australia 50 years ago! Similarly, the superannuation gap between men and women has narrowed too. While ABS data is one way to measure the super gap, ASFA data measures it differently. Importantly, we need to recognise the size of the gap is still incredibly substantial in its consequences – that still so many women are retiring with grossly insufficient retirement monies.

The bad news (but here’s the life raft)

200 years is a really long time to wait for gender balance in unpaid work to be achieved; it won’t be in our daughters’ or grand-daughters’ lifetimes, but perhaps our great-granddaughters.

This slowness of corporate and policy changes only reinforces why Super Rewards was created. As a cash-rewards-into-super online shopping platform, it means YOU can start contributing to your super right away – without having to wait for 200 years. What’s stopping you signing up right now?

 

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Retailers

This is a quick view of a collection of our retailers. To view all, please go to super-rewards.com.au

Accessories

Threadicated

Threadicated

Nautica

Nautica

katespade

Kate Spade

oroton

Oroton

witchery

Witchery

Baby and Children

kidsbrightstar

Bright Star

Bright Star Kids

Queen Bee

Queen Bee

Queen Bee

thatbabyshop

That Baby Shop

Beauty

nudebynature

Nude by Nature

fresh

Fresh

Fresh

endotaspa

Endota Spa

Endota Spa

sephora

Sephora

Sephora

Nourished Life

Nourished Life

Nourished Life

HARDTOFIND

Hard to find

Hard to find

Clothing and Fashion

modibodi

Modibodi

Modibodi

rockmans

Rockmans

Rockmans

hellomolly

Hello Molly

Hello Molly

showpo

Showpo

Showpo

ugg

Ugg

Ugg

Gabo+Kelly

Gabo+Kelly

Gabo+Kelly

Lacosta

Lacosta

Lacosta

Rodd & Gunn

Rodd & Gunn

Rodd & Gunn

THEICONIC

THE ICONIC

THE ICONIC

COUNTRYROAD

COUNTRY ROAD

COUNTRY ROAD

seike

Seike

bonds

Bonds

Lingerie and Swimwear​

sunburn

Sunwear

Sunburn

seafolly

Seafolly

brasnthings

Bras 'n Things

bendon lingerie

Bendon Lingerie

Electronics

bing lee

Bing Lee

Bing Lee

Apple

Apple

Bose

Bose

Bose

Lenovo

Lenovo

Lenovo

Men's Fashion

Gabo+Kelly

Garbo & Kelly

Rodd & Gunn

Rodd & Gunn

Food and Drink

Woolworths

Woolworths

Woolworths

BWS

BWS

BWS

marley spoon

Marley Spoon

Marley Spoon

vinomofo

vinomofo

vinomofo

jimmybrings

jimmy brings

jimmy brings

gourmet basket

Gourmet Basket

Gourmet Basket

edibleblooms

Edible Blooms

Edible Blooms

getwinesdirect

Get Wines Direct

Get Wines Direct

Home Entertainment

JBL

JBL

JBL

Home and Gifts

BookTopia

BookTopia

petals

Petals

Petals

interflora

Interflora

Interflora

livingstyles

Living Styles

Living Styles

adrenaline

Adrenaline

Adrenaline

Homewares

thegoodguys

The Good Guys

The Good Guys

lowes

Lowes

Lowes

Household

Renovation Store

Renovation Store

Renovation Store

Shoes

Hushpuppies

Hush Puppies

Ugg

Sport and Fitness

puma

Puma

Puma

footlocker

Footlocker

Footlocker

Travel

hotelscombined

Hotels Combined

Hotels Combined

travelinsurance

Travel insurance

Travel insurance

covermore

Cover More

Cover More

viator

Viator

Viator

edreams

eDreams

eDreams

qatar

Qatar

Qatar

pocruises

P & O Cruises

P & O Cruises

sta travel

Sta Travel

Sta Travel