New Superannuation Rule
A major change to superannuation is coming, with new 'Payday Super' rules aiming to deliver more money in retirement.
The new rules will require employers to make superannuation contributions within seven business days of payday, starting from July 1.
Dr Chalmers said it would strengthen Australia’s superannuation system and combat wage theft.
- Faster payments
- Fewer missed contributions
- More money for retirement
According to Treasurer Jim Chalmers, unpaid super totalled almost $5.2 billion in 2024/25, and more frequent payments should help with detecting unpaid super contributions more quickly.
Author's summary: New superannuation rules to boost retirement funds.
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