Lisa Darmanin (Victoria, Australian Labor Party) Share this | Hansard source

I want to speak about women and superannuation. There's been a lot of talk about that here in the chamber, both today and yesterday, and I want to speak about it again, because it is something that is very close to my heart. Universal superannuation is a vital part of a system that's designed to give working Australians a dignified and decent retirement, which every Australian should be able to access, not just some. After working hard throughout their whole lives, having dignity, security and peace of mind when they've finished the hard work that they've done throughout their careers is something that everybody should be entitled to. Yet for many women this promise is not being fulfilled. Hopefully, today we will be one step closer to closing some of the gaps and deficiencies in the system to make it more of a reality for women.

The data is clear that, when women take time out of the workforce to raise children, they're not only losing immediate wages; they are also losing important contributions to their nest egg for retirement, which results in them receiving about 25 per cent less than men when they get to retirement age. We cannot in good conscience allow women to be penalised with his financial insecurity when they retire, so it is really pleasing to see the debate in the Senate yesterday and today to put paid superannuation onto the government's Paid Parental Leave scheme. This is a crucial step that will address the inequality. I'm proud to be part of the Albanese Labor government, which is making this happen and investing in women's economic security.

I also want to take a moment again to acknowledge the significant contributions of the working women from around Australia who have contributed to this reform. Their work exemplifies the power of collective action to make change happen and fight for what is right.