FSU members at Westpac and NAB will soon benefit from having superannuation paid on a period of parental leave, if they are the primary carer of a child.

FSU is advocating for payment of superannuation on all periods of parental leave, and therefore welcomes this initiative from the 2 banks. As the vast majority of carers of parental leave are women, these payments will help in addressing the large gender pay gap in finance.

Let’s face it, the big four banks can afford to set the highest standards on parental leave- and FSU will continue to fight for improved benefits. We call on all employers in the finance sector to acknowledge the gender pay gap and do all they can to improve pay and conditions for parents, and women in particular.