Australian unions welcome the passage of the Albanese Government’s payday super legislation through
Parliament yesterday.
The new law – requiring employers to pay superannuation on payday from 1 July 2026 – will make super
theft more visible and ensure workers benefit from compound interest sooner.
The passage of this legislation means millions of workers will retire with tens of thousands more in their
super fund. Super theft strips $5.7 billion from 3.3 million workers, disproportionately impacting young workers,
women, migrant workers, and those in insecure jobs.
Research by the Super Members’ Council shows that almost one in three workers in their 20s (31%) and 28% in their 30s have had their super stolen.
“Payday super means millions of workers will retire with tens of thousands of dollars more in
superannuation, not just by reducing super theft, but by earning faster and more compound interest from
their super,” said Australian Council of Trade Unions Assistant Secretary Joseph Mitchell.
