AMP welcomes today's announcement by the Federal Government that it will introduce superannuation payments to the Commonwealth Parental Leave Pay Scheme from 1 July 2025.

Melinda Howes, AMP’s Group Executive Superannuation and Investments, said:

“Paying super on parental leave is a vitally important step in helping close the retirement savings gap for the many women who take time out of the workforce to raise a family. This gap can have a significant impact on the quality of life for women as they approach retirement.

“This should be just the start. We’d like to see this policy supported by targeted programs to improve women’s financial literacy, as research shows there is a strong link between financial literacy and higher retirement savings, making this is an important tool to closing the savings gap.”