BabyBump is a new program for Future Super members where you receive a refund of the weekly member fee for the time you’re on parental leave, up to a maximum of 12 months.
Why have we introduced BabyBump?
It's our way of making super more fair for parents, and it's a baby step towards addressing some of the structural inequality in the super system.
Gender Inequality and Super
At Future Super we’re very aware (and have written previously) of the glaring injustices in our superannuation system that mean women in Australia retire with 47% less super than men.
For parents, that gap is even wider, with mothers retiring with a whopping 60% less super than fathers.
This sobering figure actually reveals two massive problems in Australia: the first (and most obvious), is that there is a “motherhood penalty” for women when it comes to superannuation. The second (and more subversive) is that very few Dads in Australia are taking parental leave.
Future Super’s new BabyBump program is designed to address both of these problems.
The BabyBump program is a fee rebate for Future Super members of any gender who have recently become new parents, whether by birth or adoption. All you need to do is complete this simple form and confirm your eligibility, we’ll rebate our membership fee back into your super account for the period that you’re on parental leave (up to $93.60).
BabyBump is our way of saying CONGRATULATIONS on your new arrival!
...and it’s a baby step we can take towards fixing the structural inequality in the super system for new parents: by protecting the super for women taking time out of work to be with their new child, and removing one of the barriers that might stop fathers from doing the same.