FWC & small business, women’s super, more

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FWC & small business, women’s super, more

FWC will get small business representation: Coalition | Women’s super shortfall | More successful trainees than apprentices.

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FWC will get small business representation: Coalition

If elected, a Coalition government will ensure that the Fair Work Commission (FWC) will include small business expertise.

The Opposition Leader, Tony Abbott, made the announcement today. The Coalition believes that including small business representation on key regulatory bodies such as the FWC, will allow small business to achieve a greater voice in economic decision making.

The Board of Taxation and The Australian Competition and Consumer Commission would also be required to have small business representation under Coalition policy.
 

 
Women’s super shortfall
 
Australian women’s retirement savings are substantially less than men’s and a new study contends that the shortfall is unrelated to whether they have a family.
 
The Australia Institute research paper What’s choice got to do with it? uses hypothetical examples to illustrate how the life course and work patterns of four different women, a nurse, a lawyer, a finance analyst and a retail worker will likely impact on their superannuation earnings.
 
‘We found that these four women were earning between 44 per cent and 88 per cent of the superannuation of a male of the same age earning the average wage,’ report author Prue Cameron said.
 
A woman working in commerce, with no children and who does not need to care for elderly parents still ends up with around 9 per cent less superannuation than the average male on retirement. A woman working in retail all her life, with two children and caring for her elderly parents will retire with less than half of the retirement savings of an average male of the same age.
 
‘The uncomfortable facts are that women earn less than men and spend more time out of the workforce caring for children and elderly parents. All of these facts ensure that women will retire with less money than men and, bizarrely, receive far fewer taxpayer contributions to their superannuation than men.’
 
See the research paper: What’s choice got to do with it?
 

 
More successful trainees than apprentices
 
Data on completion and attrition rates for apprentices and trainees in 2012 show that more trainees are completing their traineeships, but the number of trade apprentices who completing their apprenticeships has slightly decreased.
 
The National Centre for Vocational Education Research (NCVER) data demonstrated that individual completion rates increased from 55.4 per cent for trainees who started in 2007, to 57.1 per cent for those who started in 2008. Individual completion rates for trade apprentices decreased slightly from 56.3 per cent for 2007 commencements, to 55.8 per cent for those who started in 2008.
 
‘Completion of an apprenticeship or traineeship is not only influenced by the employer’s economic circumstances but also by the individual’s personal circumstances and their choices during training,’ said Ms Sandra Pattison, General Manager, Statistics, NCVER.
 
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