A NEW report reveals that Australia's unpaid superannuation issue, costing $5B annually, is worsening, depriving millions of workers of crucial retirement savings. The Super Members Council (SMC) urges urgent legislative reform to mandate super payments on payday and strengthen ATO compliance. With $41.6B in unpaid super over nine years, vulnerable groups like women and young workers are most affected. The government has pledged reforms by 2026, but swift action is needed to ensure timely and full super payments.
08 September 2024
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OUR UNPAID SUPER BILL TOPS $5B
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Michael Walls
michael@accessnews.com.au
0407 783 413
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