You will probably be aware that the statistics surrounding family violence and economic abuse are truly shocking:

• 38 women had been killed by a man (charged or convicted) by 1 July this year – 17 more than the same time last year
• 1 in 6 women – 2.4 million Australian adults – had experienced economic abuse (in 2021-22) by a current or previous cohabiting partner since the age of 15
• Domestic and family violence is the leading cause of homelessness for women and children

Financial abuse is a devastating form of domestic violence, which threatens economic security and independence. It is hard to police, as it is not yet a criminal offence in most of Australia.

When we learned of 22 year old Molly Wilkes’ story, which her mother shared in a submission to an inquiry examining the role financial institutions play in domestic abuse, we were horrified into action.

Working with other industry bodies, ASFA and SMC, we collectively called on the Assistant Treasurer Stephen Jones to reform super’s death benefit laws so that a family violence perpetrator does not profit from their abuse. 

The proposed reforms are not just about preventing financial gain for perpetrators; they are about sending a clear message that Australia will not tolerate abuse in any form.

But our work does not end there.

This is an opportunity for us as advocates, policy-makers, and industry leaders to work together to ensure super is not being used as a mechanism for financial abuse.

Superannuation was designed before the role of economic abuse was commonly recognised in experiences of domestic and family violence. It’s time for a rethink. As an industry, we must do more to protect vulnerable individuals. 

Rebecca Glenn, CEO of the Centre for Women's Economic Safety will be sharing her findings with us at Women in Super’s upcoming National Road Show, and offer solutions. We have the power to reshape our industry and create products that protect and empower.

I urge you to join us:

• Sydney - Thursday 22 August 2024
• Melbourne - Wednesday 28 August 2024
• Adelaide - Thursday 29 August 2024
• Perth - Friday 30 August 2024
• Brisbane - Tuesday 3 September 2024
• Canberra - Wednesday 4 September 2024
• Hobart - Tuesday 11 September 2024