{"id":102538,"date":"2025-03-16T18:00:00","date_gmt":"2025-03-16T07:00:00","guid":{"rendered":"https:\/\/en.econostrum.info\/au\/?p=102538"},"modified":"2025-03-16T17:55:20","modified_gmt":"2025-03-16T06:55:20","slug":"aussie-workers-set-for-a-6000-super-boost-under-new-law","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/au\/aussie-workers-set-for-a-6000-super-boost-under-new-law\/","title":{"rendered":"Aussie Workers Set for a $6000 Super Boost Under New Law"},"content":{"rendered":"\n

From July 1, 2026<\/strong>, Australian employers will be required to pay superannuation at the same time as salary or wages<\/strong>, marking a major shift from the current system, which allows payments to be made quarterly.<\/p>\n\n\n\n

The federal government says this reform will increase retirement savings, ensure workers receive the full super they are entitled to, and make it easier to detect unpaid contributions. <\/p>\n\n\n\n

The move has been welcomed by industry experts, who say it could add thousands of dollars to workers\u2019 retirement funds and help combat non-compliance among employers.<\/p>\n\n\n\n

What is changing<\/h2>\n\n\n\n

Currently, employers must contribute at least 11 percent of an employee\u2019s earnings into their superannuation fund. However, these contributions are only required to be paid every three months. This delay means employees miss out on the compounding growth that more frequent contributions would provide.<\/p>\n\n\n\n

The new payday super system will mandate that super is paid at the same time as wages or salaries. The government argues this will not only boost retirement balances but also help workers track their super more effectively.<\/p>\n\n\n\n

Assistant Treasurer Stephen Jones described the reform as a major improvement for workers and businesses alike.<\/p>\n\n\n\n

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\u201cPayday super will make it easier for employers to manage their payroll by paying super at the same time as salary and wages. This will also help workers build their retirement savings faster.\u201d<\/p>\n<\/blockquote>\n\n\n\n

How much will workers gain<\/h2>\n\n\n\n

Industry analysis suggests that moving to payday super will have a substantial impact on workers\u2019 retirement savings.<\/p>\n\n\n\n