DEXUS bridges gender super gap

DEXUS bridges gender super gapDEXUS Property Group has become one of only a few major Australian companies to bridge the gender superannuation gap by continuing to pay full superannuation entitlements during unpaid parental leave.DEXUS CEO and Property Council of Australia national president Darren Steinberg said the new policy “supports our goal of gender equality in the workplace and helps to reduce the superannuation gap”. Steinberg is also a member of the Property Male Champions of Change initiative, which is designed to accelerate gender equality in the historically male-dominated property industry.In its announcement, DEXUS acknowledged a gender gap in superannuation savings, saying Australian women have “significantly less” than men. Continuing superannuation contributions for employees taking unpaid parental leave is designed to “reduce the impact of parental leave on an employee’s accumulated superannuation balance at retirement age”.DEXUS reported “a significant impact on the amount of superannuation available at retirement age” following an in-depth analysis of the financial consequences of taking unpaid parental leave, adding that the situation is compounded for employees who return to work on a part-time basis.”This initiative will ensure that the superannuation balance of employees taking unpaid parental leave is maintained and is in addition to the 12 weeks’ paid parental leave that DEXUS offers,” DEXUS said.The initiative was developed through DEXUS’s Corporate Responsibility, Inclusion and Diversity Committee.