More than 80% of unpaid super goes unrecovered, and 72% of Australians agree they need to pay more attention to their superannuation. These figures are staggering! However, a recent bill passed in Parliament is here to help.
Earlier this month, Parliament passed the Payday Superannuation Bill, requiring employers to pay super at the same time as wages from July 2026. Currently, contributions can be delayed by up to a quarter, leaving many workers vulnerable to missed payments and compounding losses.
How will this bill strengthen your retirement savings?
- It will ensure contributions are deposited promptly, boosting compounding returns.
- It will reduce the risk of unpaid or late super.
- It will give workers greater visibility and confidence in their retirement planning.
You can check your superannuation and recent contributions by logging into your superannuation online portal or via their app. From July 2026, you should see your superannuation contributed to your account within 7 business days after payday.
As part of our service offering, we monitor and track the receipt of superannuation contributions for all our clients, ensuring they receive what they are entitled to. This bill will allow us and everyday Australians to identify gaps earlier, increasing the chances of recovering any unpaid super.
Now, we need the same to be implemented for HECS and HELP repayments!
Read more about the reform here: https://www.ato.gov.au/about-ato/new-legislation/in-detail/superannuation/payday-superannuation
