AWARE SUPER
BABY MODE
Most people don’t properly understand or think about their super until retirement age. But for Aussie mums, that’s often too late. Because when women take time off to have children, their super takes a hit –adding to yet another gender pay gap.
To help close this superannuation pay gap, we needed to give working mums a way to front load their super and offset their losses. That’s where ‘Baby Mode’ comes in.
Baby Mode works by giving women the option, tools and know-how to salary sacrifice, so they can reduce their taxes, boost their retirement savings and more easily secure a stable financial future.
You see, by making small incremental payments overtime, working women can drastically improve their compounded final balance. For example, if you contribute $50 per month from the age of 30, this payment would grow to over $133,000 thanks to compound interest. Cha-ching!
Now, every parent and employer can take the right baby steps to helping bridge our gender pay gap.
As well as providing an easy-to-use calculator and toolkit for how to activate these payments with your employer, we’ll work with an illustrator to create a children’s style picture book for expecting parents. Inside the picture book, we’ll map out the key features and real-world benefits of ‘Baby Mode’. On socials, we’ll spread the word of this new tool, urging women to get involved and take control of their financial future.
