Introducing ‘payday super’
From 1 July 2026, employers will be required to pay superannuation guarantee payments at the same time as salary and wages. Rest welcomes this decision to make the superannuation system fairer and more equitable – giving members and other working Australians a greater opportunity to achieve their best possible retirement.
This change will also make it easier for members to track their employer super contributions and check that payments have come through as expected. We know this is especially important for casual workers, whose hours can vary significantly from week to week.
The Government will consult in the second half of 2023 on the implementation of the changes and more details will be shared with members as they become available.
Rest also welcomes additional funding to the ATO to better act on cases of underpayment of Superannuation Guarantee, including setting targets for the recovery of unpaid super. To put it into perspective, in 2021-2022, almost half (48%) of people who reported unpaid super to the ATO were under 35.