Hydro Tasmania moves to close super gap

16 December 2018

One of Tasmania’s largest employers is now paying superannuation on unpaid parental leave as Hydro Tasmania focuses on achieving a culture of inclusion. It will apply from 1 July 2018 and is in addition to the 12 weeks of paid parental leave already offered to primary carers.

The business is taking targeted, proactive steps to make a positive change, in this case with respect to gender equality.

Hydro Tasmania CEO Steve Davy said it was a relatively small change for the business but it had the potential to vastly improve the superannuation savings of many employees.

“Although the change applies equally to men and women, it has the capacity to address a stark inequality in superannuation savings for women who perform the majority of Australia’s unpaid child care and who traditionally take extended time off to have children,” Mr Davy said.

“This is a major factor in women’s average retirement savings being approximately half that of their male colleagues.”

Hydro Tasmania’s head of recruitment, Laura Jacques, who is currently on maternity leave said it would have a huge impact on her future.

“I’m proud to work for a business which values the importance of motherhood and is prepared to go the extra mile to level the playing field,” Ms Jacques said.

“It’s not just going to help me. My children will also benefit from this in the long run.”

While not legislatively required to make superannuation contributions to employees during periods of unpaid parental leave, Mr Davy said it was the right thing to do.

“We’re champions for a sustainable future, as well as champions for Tasmania so it is right for us to take a lead on this issue,” Mr Davy said.

“Our most important assets aren't our power stations or our dams. Our people are our most important asset, and we think this change is a step in the right direction.”

Ends.

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