As part of our mission to help all Australians achieve financial wellness, we’ve teamed up with an industry leader to level the playing field for women across the country.
An exciting new partnership
If you’ve heard of the gender pay gap, you know it’s in pretty bad shape. But there are so many factors that contribute to gender inequality.
They can be hard to quantify, but we see them everywhere, from the proportion of females in leadership positions to the split of domestic labour in the home; we still have plenty of work to do in this space.
This is why we’ve established a new partnership to help our community access the tools, resources and support they need to feel financially secure.
We’re proud to introduce you to Financy, an organisation dedicated to improving women's financial literacy and economic well-being. Financy helps individuals, teams, and organisations take action to support the financial progress of women around Australia.
Financy Women’s Index
The gender pay gap offers valuable insight into the economic disparity between women and men, but holistic financial wellbeing is about far more than your earning capacity. This is where Financy truly shines. The Financy Women’s Index is a quarterly report that aggregates and contextualises data from seven key areas to paint a broader picture of women’s financial progress across the country.
Wisr is a Gold Sponsor of the Financy Women’s Index to help support the incredible work being undertaken to drive better outcomes for women and girls around Australia.
The latest report, reveals a Financy Women’s IndexFWX score of 76.2 points*. The last year saw significant reductions in the number of years it will take to achieve gender equality in parts of the index, but it also highlights some setbacks including women's progress in employment.
Economic Equality Pact 2030
Wisr has also become a signatory of Financy’s Economic Equality Pact 2030. This initiative will help women, businesses, and the government take strides toward economic gender equality.
The Pact is underpinned by the rich data collected through the Financy Women’s Index over the years.
Timeframes to equality in Australia
Gender pay gap – at 24 years, up from 22 years in 2021
Underemployment – at 18 years, up from 15 years in 2021
Employment – at 28 years, down 30 years in 2021
Board leadership – at 6 years, down from 6.5 years in 2021
Unpaid work – at 44 years2021 data , down from 59 years 2020
Superannuation – at 19 yearsFY20 data , from 33 years FY18
Education and expected earnings – at 139 years, relatively steady.
*As reported in the Financy Women’s Index 2021
Disclaimer: This article contains general information only, and is not general advice or personal advice. Wisr Services does not recommend any product or service discussed in this article. You must get your own financial, taxation, or legal advice, and understand any risks before considering whether a product or service discussed in this article may be appropriate for you. We have taken reasonable efforts to ensure that the information is accurate at the time of publishing, but the information is subject to change. We may not update the article to reflect any change.