In our first year of launching Future Super in 2014, we were a $36 million dollar fund with a team of about eight people; a small fund with big aspirations of harnessing the power of superannuation to fight climate change and reduce inequality. 

By November 2016, we developed a parental leave policy that essentially provided equal parental leave benefits to all parents, regardless of gender or carer status. At the time - believe it or not - this policy was considered progressive, with Medibank “making history” for introducing the same in 2018. For our team, it was already mainstream. If our aspiration is to reduce inequality then it was obvious that, as a workplace, we had to develop a parental leave policy acknowledging all types of parents with equal responsibility for the upbringing of children. 

Thanks to the pandemic, the negative consequences of persistent gender gaps and norms were again brought to the forefront. Unsurprisingly, women often take the brunt of additional unpaid caregiving work, perpetuating long-standing societal inequalities. 

Fast forward to 2023 and our company has grown into a $10 billion dollar fund with a team of over 120 people. We recognise that parenting, the journey to it plus the journey back to work -  is complex and definitely not a one-size-fits all type of thing - and our policy needs to reflect this, too. 

So we’ve revised our parental leave policy to incorporate the following:

• Equal paid parental leave benefits regardless of gender or carer status, with greater flexibility and no minimum service requirements 

• Foster and kinship care leave

• Paid pre-adoption, pre-fostering, pre-surrogacy and fertility leave

• Surrogate leave

• Additional leave for special circumstances

• Career coaching sessions before, during and after parental leave

• Flexible return to work benefits

• Access to additional financial support

At Future Group we are committed to reducing inequality in the workplace. We are passionate about investing in you, prioritising your wellbeing, and celebrating your work and life milestones.

As always, we love input - without it, our policies are less effective. We want to hear from you so we can ensure we have considered the diverse needs of our team. Take a few minutes, ask questions, and give us feedback.

Background

While traditional family structures have been changing for some time, parental leave policies continue to be designed with a narrow definition of family in mind. Traditional policies have also often taken a limited view of the experiences people face when it comes to parenthood. By failing to acknowledge and support the full range of family structures, caregiving responsibilities and experiences of parenthood, including the journey to parenthood and the transition back into the workforce - gender, social and economic inequalities are systemically perpetuated. 

In the workplace, women are often penalised for taking time off from paid work to care for children. Penalised in the form of being disregarded for promotions, overlooked for pay increases and having their superannuation payments paused. Providing paid parental leave to each parent fosters a more equal division of unpaid care and paid work, improves the family work-life balance, positively impacts a child’s development and allows parents to bring their best selves to work. 

Future Group acknowledges that employers play a key role in normalising men’s roles in caregiving, given that men have historically taken the backseat in caring responsibilities. By providing access to parental leave to everyone, regardless of gender or carer status, gender disparities in the workforce can be reduced, as men are given the opportunity and are encouraged to take an active role in childcare. 

At Future Group, we also recognize that families come in many different forms, including single-parent households, rainbow families and multi-generational families, just to name a few. Each of these families faces unique challenges and opportunities when it comes to parenting, and a one-size-fits-all approach to parental leave can leave many families behind. The challenges are also not limited to a single point in time, and providing paid leave is only one of many things a workplace can do to provide support. 

Our policy aims to take a comprehensive approach when it comes to parental leave. It aims to take into account the diverse needs and circumstances of all families - before, during and after parental leave -  by removing some of the financial, logistical and mental barriers people might face in taking time off work as well as returning back to the workforce. 

By making parental leave policies inclusive, everybody wins. Inclusive parental leave policies can lead to greater social acceptance and reduced discrimination and can also help to mitigate any work-family conflict, such as stress and burnout, which can have detrimental effects on individuals and society as a whole.

Our parental leave policy has been designed with you in mind. Becoming a parent can be one of the biggest transitions you will face in your lifetime and we want to make sure that we, as your workplace, have your back - before, during and after your parental leave.

Purpose

The purpose of this policy is to outline the support Future Group will provide if:

• You have responsibility for the care of a new child;

• You are undergoing fertility treatment; 

• You are going through a fostering, adoption or surrogacy process;

• You are a birth-giver and entering into a surrogacy agreement; or

• You have experienced pregnancy loss.

Scope

This policy applies to all full-time or part-time Future Group employees (either permanent or on a fixed-term contract).

This parental leave policy applies with effect from 1 July 2023. 

Please note: if you are a permanent employee and are already on parental leave (either paid or unpaid) at the time this policy comes into effect, we will extend any benefits of this policy that are additional to our existing entitlements to you. 

Eligibility 

You are eligible for the benefits under this policy if:

• you are a full-time or part-time employee (either permanent or on a fixed-term contract); and

• you have, will have or are planning to have responsibility for the care of a new child through birth, surrogacy, adoption, fostering, or kinship care.

Please note, if you are on a fixed-term contract, any applicable benefits will be provided up until the agreed end date of your contract.  

Future Group does not impose any minimum service requirements in order to access parental leave, ie. you don’t need to pass your probationary period to access parental leave. 

Imagine being denied access to parental leave because you’re 3 months away from finishing probation - not on our watch. By removing minimum service requirements, we’re removing people’s inability to switch jobs, increasing our chance of attracting the right people and providing a sense of security for those who want to work with us. 

Carer status

This should go without saying but this policy applies to all parents, regardless of gender or carer status. 

The amount of paid parental leave you can access shouldn’t depend on your gender, or whether you have been classified as the primary or secondary carer.  Parents have equal responsibility to take care of their child - the end. By making paid parental leave accessible to each parent, we can help influence an equal division of unpaid care and paid work, and remove another barrier for women’s equal participation in the workforce.

Leave applications

Paid parental leave

1. All eligible Future Group employees who have or will have responsibility for the care of a new child through birth, adoption, or surrogacy, can access 20 weeks of paid parental leave, in accordance with the average number of days per week worked in the 6 months prior to your leave. For example, if you work five days per week for three months prior to taking parental leave, and you worked three days per week in the three months prior to that, you will receive 20 weeks of paid parental leave at four days per week. 

As of 1 July 2023, the government is increasing its parental leave pay to 20 weeks, and we're matching that. Future Group’s paid parental leave can be accessed separately to the government parental leave, which means that you can access 20 weeks from Future Group in addition to any current government parental leave offering for which you are eligible. 

2. This leave can be taken during the first three years of birth, adoption or long-term foster placement, and up to six weeks prior. This leave can be taken in one continuous block or several blocks (with approval from your manager and People & Culture). Each block must be a minimum of 4 weeks. We will do our best to land on an arrangement that suits your family’s needs and the needs of your team and the business. 

3. Parental leave can be taken at full-time pay (i.e. 20 weeks at your full-time salary) or half-time pay (i.e. 40 weeks at half your full-time salary). It can also be taken in conjunction with annual leave and unpaid leave, as agreed with your manager and People & Culture.

Being flexible in how you take your leave encourages non-birth parents (historically men) to partake equally in caring responsibilities; and since women have historically been placed with the majority of caring responsibilities, we think this flexibility is particularly important in supporting women back into the workforce.

4. If you do not return to work with us following your parental leave, we’ll be sad and we’ll miss you, but we won’t require you to repay any portion of the paid parental leave - we will simply wish you all the best in the next stage of your life and career. 

5. You can take up to 12 months of parental leave (inclusive of any paid or unpaid components). You can also request up to 12 months of additional unpaid parental leave with 4 weeks’ notice and in writing (requested through to the People & Culture team). While we will try our best to approve requests, approval will depend on the business and your team’s needs. 

Additional entitlements

We’ve included some additional benefits - the bells and whistles, if you like:  

1. Superannuation payments will be paid up to 12 months after the commencement of each instance of parental leave, regardless of whether or not you are on paid or unpaid leave.

2. Your annual leave will continue to accrue during the paid portion of your parental leave.

3. Your personal/carer’s leave will continue to accrue up to 12 months after the commencement of each instance of parental leave.

4. For each instance an individual takes parental leave, up to 12 months of that parental leave period will count towards service for the purposes of determining long service leave eligibility.

Did you know that in most states and territories, long service leave does not accrue during parental leave. This essentially means you have to work longer to access your long service leave because you’ve taken a “break” from work. Since women have historically taken time off paid work to take on child caring duties, it means that women’s long service leave has often been disproportionately impacted.  It didn’t seem fair to us, so we’ve implemented this benefit.  

5. Personal/carer’s leave will continue to accrue during paid and unpaid parental leave, up to a maximum of 12 months per instance. 

We want you to continue to build your personal/carer’s leave balance while you’re on parental leave because we recognise that when you become a parent or a carer you’ve got more sick people to look after. We want you to be able to take time off as needed, to look after yourself and your loved ones.

6. You will have access to three private one-hour career coaching sessions from a third-party provider chosen by Future Group, before, during and after parental leave. 

Studies show that women have often not returned, or resigned shortly after taking parental leave, due to issues with the transition back into the workforce. The purpose of these sessions is to help you establish clear plans for managing your short to long-term career goals and provide you with professional support as you navigate the ins and outs of becoming a working parent. 

Additional guidelines

There are a few details you should be aware of, check them out below:

1. Paid parental leave is inclusive of public holidays: 

   1. Any public holidays that fall within your period of paid parental leave will not be paid in addition to your parental leave entitlement. As such, this will not extend your paid parental leave period by the commensurate number of days.

   2. Any public holidays that fall within any paid annual leave or unpaid leave taken while on parental leave will not be paid in addition to your annual leave entitlement. As such, this will not extend your paid annual leave period by the commensurate number of days.

2. Any Working From Home (WFH) Allowance payments will not be provided during parental leave. Please read our WFH Guidelines for more information.

3. If you are a participant in the Future Group equity program e.g. Employee Share Ownership Plan (ESOP), then your vesting schedule will continue as normal for up to 12 months of each instance of parental leave.

4. Your salary will be considered for review within the annual remuneration review process, regardless of whether or not you are on parental leave. 

5. It should go without saying but to ensure peace of mind, you won’t be excluded from consideration for promotion on the basis that you are about to go on parental leave, you are on parental leave or you have just returned from parental leave. 

6. While on parental leave you will be able to continue to access your professional development budget to use for continued learning, should you wish to (or have time for that) during your leave.

7. Parental leave that isn’t used within this period can’t be carried over and/or cashed out, nor will it be paid out at the end of employment. 

8. Our paid parental leave offering is in addition to any government parental leave entitlements  that you may be eligible for. Please check out Fair Work for more information.

Process for taking paid parental leave

To help your team plan for your absence, we ask that you: 

1. Let your manager know at least 12 weeks’ before the planned commencement date of the leave and your intended return date; or

2. If the above is not practicable, please let your manager know as soon as you can; and

3. If your plans change, please re-confirm the commencement and return dates with your manager four weeks before the planned commencement and return dates or as soon as practicable; and 

4. Once you have let your manager know, reach out to People & Culture as soon as practicable. The People & Culture team can help guide you through the parental leave process and answer any questions you may have. 

Returning to work 

Transitioning back to paid work after parental leave is hard. You're essentially a new person, with different priorities, concerns, routines and responsibilities. We recognise it can be an overwhelming time, so here is how we’d like to help. 

1. For your first three months after returning from parental leave, you can choose to work four days per week, but be paid for a full five-day week. For full-time employees, this effectively equates to an additional 12 days of parental leave.

2. We’ll be guided by you in terms of how many days and hours you would like to work. This will be discussed and agreed upon before your parental leave period and reconfirmed prior to your return to work. 

3. You can also access flexible work arrangements such as flexible working hours. This will be agreed upon by both you and your manager.

4. If you return to work and begin working part-time in a role that would otherwise be full-time were it not for your caring responsibilities, then you will receive super contributions as if you were working full-time.

In the years nearing retirement age, men have around 22 to 35 percent more superannuation than women. One main reason for this is that women are more likely to take time off from paid work to care for children and family members - a type of work that is unpaid and unlinked to superannuation. The superannuation gender gap has significant implications for women's economic security in retirement. Women are more likely than men to experience poverty and financial insecurity in retirement, due in part to their lower superannuation balances.

Foster and kinship care leave

1. If you are an accredited foster carer and will have responsibility for the care of a new child by way of long-term foster care, you will have access to all parental leave benefits. A long-term fostering placement is one that lasts for two years or longer. 

2. If you will have responsibility for the care of a new child through short-term foster care or kinship care, you can access up to four weeks of paid foster and kinship care leave per financial year. 

Short-term foster care and kinship care includes:

• Short-term foster caring, which is the temporary care of a child of up to 18 years of age on a short-time basis (less than two years) by an employee who is an accredited foster carer; and

• Kinship care, which is temporary care provided by the employee to someone who is a relative or a member of the child’s social network, when the child cannot live with their caregivers.

• Aboriginal and Torres Strait Islander kinship care, which is temporary care provided by an employee who is a relative or friend of a child who cannot live with their parents or carers, where family and community and First Nations culture are valued as central to the child’s safety, stability and development.

There is often a great deal of uncertainty about the length of time a child will remain in foster or kinship care. This means that there is often a great deal of uncertainty for foster parents and kinship carers. We wanted to outline the baseline entitlements above, however we will afford flexibility wherever possible and consider each situation on a case-by-case basis as needed and with guidance from your foster agency or the like. 

We acknowledge that kinship care for Aboriginal and Torres Strait Islander peoples is significantly different to how most Australians or western cultures view kinship. Aboriginal and Torres Strait Islander kinship “goes back to belonging and connection to the land, it's this connection to Country that defines identity and brings families together”. Providing kinship care for Aboriginal and Torres Strait Islander children is particularly important as cultural identity is central to wellbeing which can only be made possible, to the fullest extent, within an Aboriginal or Torres Strait Islander family unit.

42% of children in out-of-home care are Aboriginal or Torres Strait Islander, despite only representing 6% of children across Australia. By providing access to kinship care leave, we're hoping to bring attention to this issue, while providing the support needed for Aboriginal and Torres Strait Islander kinship carers.

Paid pre-adoption, pre-fostering, pre-kinship, pre-surrogacy, pre-parental or fertility leave

1. If you are adopting, fostering a child or are planning for surrogacy, you will also be able to access up to five days of paid pre-adoption, pre-fostering, pre-kinship and pre-surrogacy leave per financial year to lodge applications, attend interviews and anything else required to get approval for becoming parents of a child. 

2. If you are undergoing in vitro fertilisation (IVF) treatment or other fertility treatments (such as an egg retrieval procedure), you will be entitled to five days of paid fertility leave per financial year to go to medical or other appointments associated with the treatment. 

3. If you are experiencing complications with your pregnancy or if your partner is experiencing complications with their pregnancy, you will be able to access up to five days of paid pre-parental leave per financial year to attend any medical appointments or take the time needed to recover. 

4. If you need to attend standard medical appointments in relation to pregnancy, we encourage you to use your personal leave and take time off as needed; more information about personal leave can be found here. If you do not have enough personal leave, please reach out to your manager, the People & Culture Advisor, or anyone from the People & Culture team. 

The fostering, adopting, surrogacy process can be lengthy and challenging. Similarly, having IVF, other fertility treatments and pregnancy involves navigating a complex medical process that can be physically and mentally demanding. In providing this leave, we’re hoping that work can be one less thing you need to worry about. 

Surrogate leave 

If you are a birth-giver who enters into a surrogacy agreement to carry a baby for someone else or another couple you will be entitled to 18 weeks of paid surrogacy leave, assuming the surrogacy arrangement meets the requirements of the law of a state or territory that applies in relation to the surrogacy arrangement.

We understand that for surrogate birth-givers, surrogacy can be a significant undertaking that requires a lot of time and emotional investment. This leave is designed to provide birth-givers the appropriate time to heal from the physical impacts of birth and the emotional and psychological strain that may occur from becoming a surrogate. 

Additional Leave

Content Warning: the next section of this policy discusses pregnancy and child loss.

We appreciate the experiences described below can be incredibly devastating, and that the support needed will differ from person to person. While we’ve outlined the basic entitlements you can access in each instance, we encourage you to have a confidential chat with someone you are most comfortable with, your manager or anyone from the People & Culture team, to discuss what support is suitable for you.

Support can come in many forms. For example, we can work with you to organise a flexible working arrangement which may include, but is not limited to, reduced working hours, changing your starting and finishing times, or working a compressed working week. We can also provide support by connecting you with organisations that specialise in providing support under these difficult circumstances.   

Stillbirth and neonatal death

Stillbirth and neonatal death are devastating experiences for parents. In these difficult circumstances, we will support you as best as we can. 

In the event of a stillbirth or or neonatal death (within 28 days of birth):

• If you are the birthing parent, you will have access to paid parental leave and entitlements listed in section 4; or

• If you are the non-birthing parent, you can access up to four weeks of paid discretionary leave.

In the case of stillbirth or neonatal death, should you wish to return to work earlier (at your full discretion), we ask that you provide us (your manager or the People & Culture team) with two weeks’ notice, to allow us time to make arrangements for your transition back to work.  

You may have noticed that, for the first time in this policy, we’re distinguishing between birthing and non-birthing parents in terms of the support we are providing. We want to recognise the fact that carrying a baby and the birthing process is a physically demanding experience for the birthing parent. While we want to support both parents as they grieve the loss of their child, we’re providing additional parental leave to the birthing parent to allow the body sufficient time to fully heal and recover. We have also made this distinction in the section below. 

Termination of pregnancy for medical reasons

In the event there is a medical reason to terminate your pregnancy prior to 20 weeks of pregnancy, you can access up to four weeks of paid discretionary leave.

In the event there is a medical reason to terminate your pregnancy from 20 weeks of pregnancy:

• If you are the birthing parent, you will have access to paid parental leave and entitlements listed in section 4; or

• If you are the non-birthing parent, you can access up to four weeks of paid discretionary leave.

In the case of termination of pregnancy for medical reasons, should you wish to return to work earlier (at your full discretion), please provide us (your manager or the People & Culture team) with two weeks’ notice, to allow us time to make arrangements for your transition back to work.  

Miscarriage 

In the event of a miscarriage (prior to 20 weeks of pregnancy), you can access up to four weeks of paid miscarriage leave. 

In the case of a miscarriage, should you wish to return to work earlier (at your full discretion), please provide us (your manager or the People & Culture team) with notice as soon as reasonably possible, to allow us time to make arrangements for your transition back to work.  

Abortion or termination of pregnancy

If you choose to have an abortion or terminate your pregnancy, we encourage you to use your personal leave to attend your appointment and take time off as needed; more information about personal leave can be found here. If you do not have enough personal leave, please reach out to your manager, the Senior People Partner, or anyone from the People & Culture team. 

Access to Employee Assistance Program

FSG provides all employees and their immediate family to an Employee Assistance Program, currently Uprise. 

Uprise provides a range of services for team members – including in-person counselling, health and wellbeing content and telehealth coaching and counselling – which is all on a confidential basis and uses accredited counsellors, psychologists and specialists to provide these services. 

If you have experienced pregnancy or child loss, you will be able to access unlimited counselling and/or coaching sessions with Uprise.

Financial support 

We recognise that people may face financial barriers when starting a family or undergoing fertility treatments. While there are government-funded subsidies, they may be limited or inadequate. 

If you need additional financial support, the Future Group Employee Support Loan may be available to you. The loan can assist in paying for out-of-pocket costs which you might incur (it is assumed that the individual will claim any Medicare or private health fund rebates to which they are entitled).

Further information can be found in the Employee Support Loan Guidelines.

Additional policies and resources

We encourage you to read and consider this policy in conjunction with other relevant Future Group policies and resources, including:

• Flexible Working Guidelines 

• Mental Health and Wellbeing Policy

• Uprise

• Standards of Behaviour

• WFH Guidelines 

• Employee Assistance Loan

Additional resources

• The parental leave process for you

• The parental leave process for managers 

• Pink Elephant Emotional Support Resources for people who have experienced pregnancy or child loss 

Some fine print 

Any obligation contained in this policy does not create contractual rights. Any benefits or entitlements described in this policy is discretionary and Future Group has the right to change, remove or replace any obligation, benefit or entitlement at any time.

If you have any questions, please email us at peopleandculture@futuregroup.com.au