Thousands of employers are failing to pay their staff superannuation and it’s costing workers billions of dollars every year. Almost three million Australians missed out on $5.1 billion in legal super entitlements in 2021-22, according to new super industry analysis of ATO data. The average underpayment was $1,800 a worker. The problem can be worse for women and younger people in lower-paid jobs, but the data also shows unpaid super is seeing more Australians aged over 60 retiring with depleted nest eggs, creating financial insecurity. The superannuation industry is calling on the federal government to move faster to legislate for payday superannuation changes. From July 1, 2026, all Australian employers will be required to pay superannuation to their employees at the same time they pay their wages. They are also calls to make it easier for workers to get back their super when a business goes bust. Workers and the industry suggest the Fair Entitlement Guarantee — which allows eligible workers to claim compensation for unpaid wages, leave, redundancy pay and other entitlements in the case of business insolvency – be extended to superannuation. Nassim Khadem reports.
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