“We want to revolutionise what superannuation means to women. So that will involve education and creating communities to support our members. It also means allowing our members to invest collectively to support companies and industries building a world women want.”
AUSTRALIA - Verve Super, backed by Future Super, has launched today with a promise to challenge the existing superannuation system by helping more women close the retirement savings gap, particularly those who take career breaks to have children.
The launch coincides with a rising trend in financial services to target women through products that go beyond “pink washing,” in light of expectations that increased workforce participation will lead to greater wealth, financial independence and demand for products that address problems like the gender pay or retirement savings gap.
But to date the challenge for the finance industry in reaching women has been one of engagement, which has not been helped recently by some damning reports of misconduct from the Banking Royal Commission.
The Financy Women’s Index shows that the average woman retires with 66 per cent of the account balance of the average man, largely due to taking time out of full-time work to care for children.
www.womensagenda.com.au
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