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Showing 1 - 10 of 12 results for "Payday Super"

Payday Super penalties ramped up ahead of legislation

JAMIE WILLIAMSON  |  WEDNESDAY, 18 SEP 2024
... superannuation contributions within seven days of paying wages will face harsh penalties under the government's new Payday Super laws. Releasing its proposed framework today, the government outlined further details it plans to include in legislation ...

Australians robbed of super savings

ANDREW MCKEAN  |  WEDNESDAY, 28 AUG 2024
... pay their workers' entitlements on time are undercut by those who don't. While the government has pledged to enact payday super reforms by 2026, the legislation, however, still hasn't been introduced to Parliament, and details of its implementation remain ...

Payday super timing, deliberate: Chalmers

CASSANDRA BALDINI  |  TUESDAY, 5 DEC 2023
... acknowledged that for too long, people haven't received the super they're entitled to. "We want to fix that, and payday super is part of the solution to that challenge," he said. "It will mean more super for more workers. We recognise that people ...

Payday super protects most vulnerable: SMC

CHLOE WALKER  |  MONDAY, 4 DEC 2023
New modelling by the Super Members Council (SMC) reveals payday super could add up to $36,000 to the retirement balance of workers in the lowest 20% of wage earners. A recent SMC analysis of an Australian Taxation Office sample file has found that on ...

Cost-of-living crisis puts young members at risk: Rest

ANDREW MCKEAN  |  TUESDAY, 31 OCT 2023
... members, citing recent initiatives like the removal of the $450 monthly income threshold and the introduction of payday super. "We need to build on this momentum and implement further reforms, such as superannuation contributions on paid parental leave," ...

Payday super a seismic change for the industry: ART

CHLOE WALKER  |  THURSDAY, 19 OCT 2023
Following the release of the payday super consultation paper last week, Australian Retirement Trust (ART) head of employer, platforms and partnerships Mat Gilroy says industry players will need to focus on digital integration moving forward. Speaking ...

Consultation paper released on aligning super payments with wages

ANDREW MCKEAN  |  MONDAY, 9 OCT 2023
... consultation paper also seeks feedback on how employee onboarding and their choice of fund could be improved under payday super. In the 2023-24 Budget, the government announced that from 1 July 2026, employers will be mandated to pay Superannuation Guarantee ...

Rest closes investment options, shifts allocations

ANDREW MCKEAN  |  FRIDAY, 25 AUG 2023
... superannuation balances, which currently stands at 26% for Rest members aged 60 to 64. "Coupled with the introduction of payday super and plans to increase the visibility of unpaid superannuation, there has been some encouraging progress towards greater ...

Greg Combet steps down as IFM Investors, ISA chair

ANDREW MCKEAN  |  WEDNESDAY, 14 JUN 2023
... implemented, including protection of the legislated increase to the superannuation guarantee and the announcement of payday super. ISA chief executive Bernie Dean commented: "It's hard to overstate the impact Greg has had. He leaves the super system ...

Payday super to boost retirement savings for millions

ANDREW MCKEAN  |  TUESDAY, 2 MAY 2023
... will be required to pay their employees' super at the same time as their salary and wages. By transitioning to payday super, the government aims to tackle the average annual $4.7 billion of unpaid super. Unpaid super has been worsened by existing ...
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