Tanya Plibersek (Sydney, Australian Labor Party, Deputy Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. The average superannuation balance of an Australian woman is around $40,000. Why is the Prime Minister making it harder for Australian women to save for their retirement by cutting the low-income superannuation contribution? It is a cut which will leave around 3.6 million Australians worse off, including over two million women. Will you reverse this cut?

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

I thank the honourable member for her question. The changes that she has referred to are part of the overall task of budget repair that the Minister for Social Services so eloquently described. Let me—

Opposition Members:

Opposition members interjecting—

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

No, I am treating her question with the seriousness that it deserves. The issue about women's savings, particularly superannuation savings, is a very real one.

Ms Claydon interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Newcastle will cease interjecting.

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

There is no question that Australian women generally have less savings in their superannuation funds. Because of family commitments, they drop out of the workforce or out of the full-time workforce for a period. I can assure the honourable member that we are very focused on this issue and paying very careful attention to it in our review of all of these interrelated matters, including tax, right at the moment. I thank her for the question. It is a very real issue, and we will have more to say about it in the future.