STATEMENTS BY SENATORS

Senator DARMANIN (Victoria—Deputy Government Whip in the Senate) (13:44): To earn the same amount as a man in a year, the average woman would need to work 48 extra days. Thinking of the wonderful women in my life, I am not sure how any of them would fit in those extra days between school drop-offs, basketball pick-ups and attending school plays and all of the rehearsals that go with it.

Ironically, it is these additional caring responsibilities, among other factors, which drive the gender pay gap. We treasure them, but we don't get paid for them. Yesterday was Equal Pay Day, which marked 48 days into the new financial year.

Australia's gender pay gap has fallen to 11.3 per cent, the lowest level since records began. That is worth celebrating. But, if Equal Pay Day reminds us how inequality affects women today, the gender super pay gap shows how those inequalities can follow women for decades.

By their early 60s, the median superannuation balance is around $51,000 lower than it is for men. Women continue to do more unpaid caring work, are more likely to step away from paid employment after having children and often face lower lifetime earnings as a result. The Albanese government's introduction of superannuation on paid parental leave is making a difference.

Twelve months on, we are already seeing the impact. Around 200,000 parents have received superannuation contributions on paid parental leave, delivering an estimated additional $285.5 million into their retirement savings—$285 million extra retirement savings into their accounts. A woman on parental leave today will be around $5,400 better off at retirement.

There is more work to do to close both the gender pay gap and the super pay gap, but superannuation on paid parental leave is already making a difference 12 months on, helping to ensure that starting a family no longer means falling further behind in retirement.