Superannuation australians losing out on 6 billion a year 20191122 p5xg1s.html – Breaking News & Latest Updates 2026
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This was published 6 years ago

Australians losing out on $6 billion a year in super

AAP

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Australians are losing out on $6 billion a year in superannuation, a parliamentary inquiry has been told.

Industry Super Australia chief executive Bernie Dean said one in three Australians are seeing super recorded on their pay slips but not getting it.

Mr Dean told the parliamentary hearing the government should look at ensuring super was paid on pay day, something he called a "no-brainer".

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"The dollar figures Australians are missing out on are too large to ignore," Mr Dean said on Friday.

"That's been going on, it really hasn't changed, for the last five or six years."

He said it wasn't a case of money getting paid late - it never turns up.

Mr Dean said a bill currently in the Senate to address the issue would give amnesty to employers who admitted underpaying super and pledged to rectify it.

"Now, if you know a third of the national workforce is missing out on superannuation through those employers ... would your first thought be to give them a free pass?" Mr Dean said.

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