Industry Super Australia has launched a new advertising campaign aimed at unpaid superannuation.
The organisation says the purpose of the campaign – Unpaid Super: Getting Worse While Nothing is Done – is to raise awareness of the impact that unpaid super has on millions of industry fund members, and to call for change.
Analysis by Industry Super Australia (ISA), of ATO data, found that a third of workers are missing out on almost $2,000 a year in superannuation because of “unscrupulous employers and loose laws”.
“This money should be in workers accounts and could make a huge difference to their life in retirement,” said ISA Chief Executive Bernie Dean.
“Instead its sitting on the ledger of some dodgy employers who are taking advantage of lax laws and no real enforcement activity,” he said.
He pointed to the Senate inquiry report into Super Guarantee non-payment, which was released in 2017 and made over 30 recommendations. But “no recommendations have been legislated or progressed in any significant way”.
A key goal of the ad campaign is to get the Parliament to change the law so that employers pay super at the same time as salary, with ISA calling the current rules only requiring super to be paid quarterly a “huge rort”.
Dean said that employers who paid super for their employees faster than required were being “undercut by dodgy employers who were holding onto their workers’ super entitlements”.
“With people not checking on their super, there’s a good chance they might be missing out, we want them to know and ask,” he said.
“It shouldn’t be on the shoulders of hardworking Australians to ensure they are being paid super – the law should require it.”
According to ISA, the ad campaign is running across TV, social media, digital platforms and “search engine marketing”.