Passage of payday super a win for workers fighting super theft

Australian Unions welcome the passage of the Albanese Government’s payday super legislation through Parliament this afternoon.

The new law – requiring employers to pay superannuation on payday from 1 July 2026 – will make super theft more visible and ensure workers benefit from compound interest sooner.

The passage of this legislation means millions of workers will retire with tens of thousands more in their super fund.

Super theft strips $5.7 billion from 3.3 million workers, disproportionately impacting young workers, women, migrant workers, and those in insecure jobs.

Research by the Super Members’ Council shows that almost one in three workers in their 20s (31 per cent) and 28 per cent in their 30s have had their super stolen.

Quotes attributable to ACTU Assistant Secretary, Joseph Mitchell:

“Payday super means millions of workers will retire with tens of thousands of dollars more in superannuation, not just by reducing super theft, but by earning faster and more compound interest from their super.

“This is a reform which will help those who suffer from super theft the most: young people, migrants, women and those in insecure work.

“The ACTU congratulates the Albanese Government and all parliamentarians who supported this vital reform.

“Payday super and the Government’s prior reforms to put super in the National Employment Standards are crucial tools that provide workers more rights to ensure they’re paid their super on time and in full.”