The Super Members Council has estimated Western Australian workers suffered a loss of $676 million in retirement savings over superannuation underpayments in 2022-23.
The Super Members Council has estimated Western Australian workers suffered a loss of $676 million in retirement savings over superannuation underpayments in 2022-23.
The Super Members Council has estimated Western Australian workers suffered a loss of $676 million in retirement savings over superannuation underpayments in 2022-23.
In its analysis of Australian Taxation Office data, the SMC claimed more than 370,000 WA workers were shortchanged by an average of $1,790 a year in superannuation.
Its analysis shows WA was underpaid $675.7 million in super in the 2022-23 financial year.
Tangney was listed as the top electorate for underpayment with $53.3 million loss and 26,300 people underpaid.
The SMC estimated $3.3 billion in unpaid super for WA workers over six years.
It comes as the SMC also announced survey results which found more than 70 per cent of Australians wanted the payday super laws to come into effect on July 1 next year.
Employers will be required to pay their employees' super at the same time as their salary and wages from July 1, 2026.
SMC chief executive Misha Schubert said Australians could not afford further delays to payday super laws.
“It’s disappointing the government didn’t make payday super legislation a priority in this first sitting fortnight when millions of everyday Australians are losing $110 million a week in retirement savings,” she said.
“The average worker in WA could be shortchanged more than $30,000 from their final retirement nest egg if unpaid super isn’t fixed urgently.
“We urge all parliamentarians to get on with passing payday super legislation in the first 100 days of this parliament.”
SMC’s call for a crack down on payday super coincided with the federal government’s first 100 days in office.