In fantastic news for working Australians, pay day super legislation has been passed into law, coming into effect from 1 July 2026.
What does this actually mean?
Pay day super means that workers’ superannuation has to be paid into their super funds at the same time that wages are paid. It means you will start earning interest on your super sooner!
We have joined other unions in calling for this move not only because it is fair but it also makes sense.
Put simply, rather than your super staying in bosses’ accounts for months you will start earning compound interest on your super sooner. It’s your super so it makes sense that you earn the interest.
Requiring employers to pay super on pay day means millions of workers will retire with tens of thousands more in their super fund.
Not only will it ensure workers benefit from compound interest sooner, but paying super on pay day will make it harder for dodgy employers to steal workers’ super.
Did you know that stolen super costs over 3 million workers $5.7 billion a year, disproportionately impacting young workers, women, migrant workers and those in insecure work?
Not any more! This legislation has made that harder.
Union members won superannuation for workers over 30 years ago, and have fought to keep improving it ever since. Today is another great achievement!
This is what being in a union is all about.
