Most Australians assume their retirement savings are quietly growing in the background. But new analysis shows that a little-known superannuation rule could be quietly costing some workers more than $11,000 by the time they retire.<\/p>\n\n\n\n
According to new research from Industry Super Australia (ISA), employees who are paid wages less frequently \u2014 such as quarterly or irregularly \u2014 are missing out on thousands in compound interest each year. The gap stems from how some employers pay superannuation contributions only a few times a year, rather than alongside each pay cycle.<\/p>\n\n\n\n
Under the current rules, employers are required to make super payments at least once every three months. But that delay can make a surprisingly big difference. Money paid into super later means less time for compounding returns to work \u2014 and over a career, that can add up to tens of thousands of dollars.<\/p>\n\n\n\n
ISA\u2019s modelling shows that a worker earning around $80,000 a year could miss out on more than $11,000 in retirement savings simply because their employer pays super quarterly instead of fortnightly, reports Yahoo Finance<\/a>.<\/p>\n\n\n\n