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New funding to improve gender balance on super boards

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By Rachael Micallef
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2 minute read

The Federal Government will provide $150,000 towards a 12 month program to help improve women's representation on superannuation boards.

The Super Springboard program will be run by the Australian Institute of Superannuation Trustees (AIST) and Women in Super (WIS) and will offer 10 places in its scholarship program. 

"Even though we're doing better on gender diversity than listed companies, we still need to improve the gender gap on superannuation boards," AIST chief executive Fiona Reynolds said.

"Super Springboards will help us to achieve this."

The program has been launched today by Minister for Financial Services and Superannuation Bill Shorten and is part of AIST's target of closing the industry gender gap.

The Boardroom Diversity Index 2012 showed that women represent 21.8 per cent of super trustee boards, but AIST aim to see them occupy 40 per cent of director positions by 2017.

Scholarship recipients from the program will receive a variety of specialist training including AIST's Trustee Director Course and will be allocated a mentor to help them network within the industry.

"Our research has shown that women face significant hurdles in becoming directors of super funds," WIS Chair Cate Wood said.

"This program will play a key role in helping super fund boards move to our target of 40 per cent female representation and, importantly, put more focus on closing the gender gap in retirement savings."

Priory for placements in the Super Springboard program will be given to funds that have no, or limited women in board positions, to help accelerate diversity.