Australia Requires Employers to Pay Superannuation Within Seven Days

A new Australian rule took effect this financial year requiring employers to transfer superannuation contributions to employee funds within seven business days of each payday. The change replaces the previous quarterly payment schedule and applies to all casual, part-time and full-time workers.

Change Previously employers paid superannuation quarterly.

The Australian Tax Office estimates that in the 2024-25 financial year $5.2 billion of superannuation went unpaid. The office returned $1.1 billion through reminders, prompts and audits last year.

Treasury estimates that a standard 35-year worker who recovers unpaid superannuation will have $30,000 more at retirement. The federal government estimates that for a 25-year-old worker today the change could add an extra $6,000 in today's money to superannuation at retirement.