'Daylight Robbery': Aussies Being Ripped Off Of Hundreds Of Millions In Super
Dodgy bosses are holding on to the super of one in three Australian workers, according to a new report released on Thursday.
Industry Super Australia says it's costing hard working Aussies $6 billion per year.
The organisation estimates that in New South Wales, 950,000 workers are missing out on their super payments -- while in Victoria that figure is about 710,000. More than half a million Queenslanders are also being ripped off - along with 290,000 WA workers and 170,000 South Australians.
Kailun Lin is one of them. She used to work as a waitress, and is suing a previous employer for $2,274 in unpaid superannuation payments, as well as more than $12,000 in unpaid wages.
"We work to support our family, our life, and super is important to support our entire life," she told 10 News First on Thursday.
Industry Super Australia Chief Executive Bernie Dean told 10 News First describes the situation as 'daylight robbery'.
"At the moment, employers are only required to pay superannuation into a worker's account quarterly," Dean told 10 News First.
"What happens is, over that quarter, often workers lose track and employers, sadly, some are holding back that money from putting it into their workers' accounts."
So what you see on your payslip each fortnight might not actually be ending up in your account at all.
Abbey Kendall, director of the South Australian Working Women's Centre, says most of her clients have no idea about what their entitled to at work.
"Every day at the Working Women's Centre we are assisting and representing vulnerable workers to recover their wages and superannuation," she told 10 News First.
"Our clients are trusting that employers are making superannuation contributions, but all too often they are simply not doing it. There is something wrong with the system when employers can get away with not paying super at all."
READ MORE: Is Your Super Supporting Unethical Industries?
Low income earners, hospitality workers, those who work in labour intensive jobs, contract workers and those aged under 30 are most at risk of missing out on their cash.
Dean wants to see the rules changed so businesses can't exploit the system.
"Penalties and enforcement are one thing, but the simple fix here is obvious to everyone... that is, you change the law, to make sure employers pay super on pay day."
Experts recommend workers check with their super fund to make sure regular payments are being made into their account from their employer. And if you suspect something isn't right, the tax office is able to look into the matter further.
Feature image: Getty
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