Virgin Money is the aboriginal superannuation armamentarium in Australia to end arbitrary fees answerable to mothers on maternology leave and is arduous the blow of the industry to chase its advance which could aftereffect in cool payouts for alive mothers accepting additional by $800 actor annually.
Called the ‘Virgin Super Baby Break’, this action would partially advice redress the accepted alterity whereby men accept about bifold the cool of women in this country due in ample allotment to women accepting children.
The ground-breaking move came afterwards Matt Baxby, managing administrator of Virgin Money Australia, evaluated the cool industry, and assured advisers were not accepting a fair accord if it came to maternology leave. “Why should Australian women abide to pay fees while they are not earning a bacon or authoritative cool contributions for the majority of their maternology leave? It didn’t accomplish faculty to us,” Mr Baxby commented.
“Virgin Money is not alone introducing a aboriginal aural the Super industry, we are auspicious all superannuation funds to chase our advance with the Super Baby Break. It is estimated that the industry as a accomplished is currently charging an alarming $30 actor in fees anniversary year during maternology leave alone,” Mr Baxby concluded.
This action is even added important accustomed federally-funded paid maternology leave is over a year abroad (2011) and the contempo July 1 assurance that any employer-paid affectionate leave is now clearly absolved from the compulsatory cool system.
Notes to editors:
•Virgin Super will benumb all cool administration costs for anniversary adolescent (for up to 12 months) while its associates are on maternology or ancestors leave.
•With Virgin Super, you could retire with added than you would compared to some added retail superannuation funds due to its low accepted fees and no access or avenue fees. The added you accept in your Virgin Super Account, the lower your fees could become.
•Go to www.virginmoney.com.au or alarm 1300 652 770 for added information.
For added information, amuse contact:
Gordon Coulter
Wrights Public Relations
(02) 9253 4100 or 0418 545 822
gcoulter@wrights.com.au
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