On Wednesday, Labor unveiled a series of proposed changes to superannuation, announcing economic security for women as a priority at the next federal election.

On average, women retire with $113,000 less in their super than men.

The policy?—?estimated to cost $400 million?—?would deliver superannuation payments to those on parental leave, in addition to the federal government’s paid parental leave scheme.

Leader of the Opposition, the Hon Bill Shorten MP, said that ‘superannuation paid on parental leave is an investment in a better and fairer retirement for Australian women’.

Shadow Treasurer, the Hon Chris Bowen MP, said that ‘Labor’s changes will see thousands of women benefit from tens of thousands of dollars more in retirement income’.

A future Labor government would commence in July 2020 and would be accompanied by an annual ‘women’s budget statement’ to make gender equity a general consideration of policy-making.

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