Over $3bn a year of superannuation is not paid to workers who have earned it. Billions more of superannuation never accrues to Australians, many already disadvantaged during their working life who will then face an inequitable retirement income too. Whether it is injured workers, young workers, carers who are still predominantly women, or low income families. Labor will ensure that superannuation is paid on every dollar earned so that across a lifetime, Australians don’t fall behind and can gain the benefits of compound interest to support a dignified retirement.
General Resolution
Simpler super for equitable retirement incomes
Labor will: • Amend the law to require superannuation to be accrued on all of a workers pay, including overtime payments • Remove the discriminatory requirement that workers under 18 years of age have to work 30 hours in a week to be eligible for a superannuation contribution. Workers regardless of age should be paid superannuation on every dollar earned. • Require the payment of superannuation on employer provided paid parental leave • Require superannuation to be payable to recipients of workers compensation payments • Legislate for superannuation to be payable to recipients of commonwealth paid parental leave pay, Dad & Partner Pay and Family Tax Benefit payments. • Legislate for superannuation to be payable to recipients of commonwealth income support payments. • Urgently deliver on its commitment to Pay Day Super to prevent the misuse or loss of accrued superannuation entitlements.