Major super funds and industry peak bodies have welcomed the introduction of the Paid Parental Leave Amendment (Adding Superannuation for a More Secure Retirement) Bill 2024 into Parliament.
The bill, if passed, will see parents with babies born or adopted on or after 1 July 2025 receive the 12 per cent super contribution on their publicly funded paid parental leave. The Labor government first pledged to the initiative in March.
Major funds including REST, HESTA and Aware Super have welcomed the news.
REST chief executive Vicki Doyle and Super Members Council CEO Misha Schubert have urged a swift passage of the bill.
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