According to the Super Members Council (SMC), women's super balances currently lag behind men's by 22-31% as they near common retirement ages. The SMC's chief executive, Misha Schubert, highlighted the reform as a landmark move poised to offer substantial investment growth over the lifetimes of parents. Schubert remarked that this initiative represents more than minor progress; it signifies a fundamental advancement in tackling the inequities women face in retirement savings.

While the benefits of these changes are clear, regional differences persist. Western Australia presents the widest gender super gap at $24,400, while Queensland and Victoria follow suit with gaps of $16,200 and $12,400, respectively. Comparatively, the Australian Capital Territory and South Australia show smaller disparities.

The SMC's advocacy does not stop with PPL reforms. The council now sets its sights on enhancing the Low-Income Super Tax Offset (LISTO) to further bridge gender inequities. Schubert underscores the persistent 'motherhood penalty' impacting women's financial standing. By advocating for an increase in the Low-Income Super Tax Offset, the SMC aims to bolster the economic security of over 700,000 low-income women in their retirement years.

Overall, these reforms signify a substantial progression towards closing the gender super gap, with future initiatives likely to continue this momentum.