Govt moves for more women on super boards

THE federal government is to provide a funding boost to catapult more women to board positions on superannuation funds.

Superannuation Minister Bill Shorten is to announce on Friday that $150,000 will be directed towards the Super Springboard Program to improve the gender ratio.

Mr Shorten said the scholarship program would accelerate the acquisition of superannuation specific knowledge and board related skills and provide mentoring support.

"I am an absolute believer in the march of women through Australia's workforce, our institutions and our boardrooms. Our country can only get better the more women participate at its highest levels, be it in politics, business, sports, our universities, our military," Mr Shorten is to say on Friday.

The program will be run by the Australian Institute of Superannuation Trustees (AIST) in conjunction with Women in Super.

Women are now 21.8 per cent of members of superannuation trustee boards, according to the 2012 Women on Boards Boardroom Diversity Index.

This is in contrast to 13.9 per cent of director positions on Australia's ASX 200 companies.

The AIST has set a target to have 40 per cent of board positions held by women by 2017.

"A number of funds have already joined this '40 per cent club', including AGEST Super, HESTA, Australian Catholic Super and Retirement Fund, the NT Government Public Authorities' Superannuation, Super SA, Tasplan, Telstra Super, Health Industry Plan and IAG and NRMA Superannuation Plan," Mr Shorten said.

"I encourage more funds to make a pledge to join the 40 per cent club."

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