New Parents to Receive 12 Percent Superannuation on Paid Parental Leave

A new bill has been introduced allowing new Australian parents to earn superannuation on top of government-funded paid parental leave from July 2025, with the aim of closing the gap in retirement savings between men and women. New mums and dads will be able to receive 12 percent superannuation while using paid parental leave, in the new bill introduced by Social Services Minister Amanda Rishworth on Aug. 22. Before this new rule, parents who took parental leave did not receive any superannuation during that time. If passed, the scheme will benefit around 180,000 families a year. “Through this bill, we are investing $1.1 billion to pay superannuation on government-paid parental leave from July 2025,” Rishworth said....