superannuation

* Superannuation and Family Law, announcement by Hon. Sen. Jocelyn Newman 30/3/99

* submission by the Women's Legal Service, Brisbane added

* 15 September 1998, Attorney-General media release: Coalition Provides Certainty and Choice for Superannuation and Family Law

* 19 May, 98 the Government released a Position Paper on Superannuation and Family Law. Copies may be obtained by contacting the Attorney-General's Department ph: 02 62506666. Submissions have now closed.

* 20 April, '98 Women’s Superannuation Information Seminar -- Money Management for Women "The importance of women looking after their own financial futures", Speech by Hon Judi Moylan MP Minister for the Status of Women

* On International Women’s Day, 8 March 1998 the Prime Minister announced, in his speech at the World Vision Breakfast in Sydney, that the government had begun actively working to introduce reforms to bring about greater fairness and certainty into the treatment of superannuation in the event of marriage breakdown.

The Prime Minister said that the government had identified the following key policy objectives to guide the reforms:

· superannuation should be clearly recognised in the division of marital property;

· there should be clear rules for valuing superannuation interests; and

· parties should be encouraged to settle their own affairs and have full information to to so;

· additionally reforms should also be consistent with retirement incomes policy; and

· arrangements need to minimise complexity and cost for all parties and take into account the features of the superannuation fund involved.

He announced that the government would publish a position paper.

The NWJC welcomed the Prime Ministers announcement and will be seeking to have input and provide comment on the reform proposals.

The treatment of superannuation in property division on the breakdown of a marital or defacto relationship, is of major significance to women. Women generally have less access to superannuation due to work disruptions arising from the distribution of family and other responsibilities in relationships. Also, because superannuation contribution rates are generally pegged to wage levels, the preponderance of women in lower paid positions results in women generally having lower superannuation entitlements compared to that of their spouse.

The NWJC is concerned about the treatment of superannuation in property division on relationship breakdown to include matrimonial relationships (to which the Prime Minister’s announcement related) and also defacto and same sex relationships.

Superannuation and Divorce in Australia, AIFS Working Paper, John Dewar, Grania Sheehan and Jody Hughes , 18 May '00

Marriage Breakdown: Super and Family Law Address by the Hon Judi Moylan, MP, Minister for the Status of Women, represented by Senator Helen Coonan Women in Super Luncheon, Canberra 17 June 1998.

Prime Ministers speech 8 March '98

International Women's Day - Women the Winners Media Release by Hon. Judi Moylan, 8/3/98. Refers to the Prime Minister's announcement.

No more 'burnt chops' for Women! Hon Judi Moylan, Minister for the Status of Women, press release 30 October 1997. Quotes a 1994 Treasury estimate that men with super fund membership had almost 3 times the assets of femalemembers and at retirement age, women had less than half the super assets of their male counterparts.

Women and Superannuation, Office of the Status of Women. See also the section on 'Divorce' which summarises the present law in relation superannuation and matrimonial property division

Juggling Time: How Australians Use Time, Office of the Status of Women, 1991Findings include that women do about 70% of unpaid work.

Looking Towards a Super Future, OWA, Queensland Encourages women to take more interest in superannuation

Association of Superannuation Funds of Australia ASFA is a non-profit, non-political national organisation whose mission is to protect, promote and advance the interests of Australia's superannuation funds, their trustees and their members. Fact Sheets summarise number of funds, assets, retirement income source etc.

Splitting Superannuation, Law Report, ABC Radio National 17 March 1998 Susanna Lobez interview with Peter Carew - deals with present approach and implications of reform options

Choices: A Paper on Superannuation- Family Law Council Paper summarises choices for government in realtion to the treatment of superannuation in matrimonial property settlements.

Family Law Act 1975 (as amended) In relation to matrimonial property division particularly see s. 79(4) and s. 75(2). The Family Law Act deals only with property settlement where the parties have been married. Australasian Legal Information Institute

An Update on Superannuation Issues in Family Law Cases, Michael Taussig Q.C, May 1997 [Barker Gosling] Outlines the current law and some key reform proposals from previous reviews

Family Court of Australia - superannuation information required

Australian Institute of Family Studies Search the LOIS database on 'superannuation'

Pension division on marriage breakdown A legislative scheme for division of pensions as family property came into effect in British Columbia in 1995. This link is to the British Columbia Law Reform Commission web site. This area of the site is dedicated to the issues surrounding the division of pensions on marriage breakdown. It provides guidance on the new British Columbia legislation and acts as a clearing house for information on this topic from other Canadian jurisdictions. Also see the page on Developments in Other Jurisdictions

Centre for Acturial Studies The Centre is in the Faculty of Economics and Commerce, University of Melbourne Research includes work on superannuation. Note the forthcoming 6th Annual Colloquium of Superannuation Researchers.

Senate Select Committee on Superannuation Dealing with a range of matters including choice, taxation, early access.