The Federal Government’s announcement today that it will require super to be paid on payday, is a long-awaited reform that will make a significant difference to the retirement incomes of older Australians, COTA Australia says.
The Federal Government today announced that from 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages.
Chief Executive of COTA Australia – the leading advocacy organisation for older people – Patricia Sparrow, said paying super on time is an important change
“This change will help more Australians retire with dignity,” Ms Sparrow said.
“As Australians live longer and healthier we need to ensure the retirement phase of superannuation is set up to better support older Australians and paying super on payday is crucial to that.
“COTA long advocated for superannuation to be paid on pay day, as opposed to quarterly. It’s fantastic that the Federal Government has listened to the needs of all Australians, including older Australians.
“The ATO just revealed it’s holding a staggering $17.8 billion in lost super, with over $471 million belonging to Australians aged 65 or older. The Pay Day super reform will hopefully encourage people to remain connected with all of their super and help to deliver more income to fund a dignified retirement.
“Of course this won’t solve all the problems people face when it comes to retirement income, but it’s a common-sense change that will benefit help more Australians retire with dignity, like they deserve to.
Media contact: Tamara Kotoyan, 0430 291 890 or Alana Mew, 0419 929 722
