Superannuation, commonly referred to as ‘super,’ is a mandatory retirement savings system in Australia, where employers are required to make regular contributions to an employee’s nominated super fund. These contributions are essential for building financial security in retirement.

If employers fail to fulfill their legal obligations, the Australian Taxation Office (ATO) has the authority to pursue them for unpaid amounts, ensuring compliance with superannuation laws.

Eligibility for Super Contributions

Employer are obligated to pay superannuation for employees and some contractors under specific conditions:

Who is Eligible?

• Employees aged 18 or older earning $450 or more per month.
• Employees under 18 who work more than 30 hours per week.
• Contractors primarily engaged for their labour who meet the same thresholds.

Exceptions to the Rule:

Superannuation contributions may not be required if:

• You are under 18 and work fewer than 30 hours per week.
• You are over 65 and have worked fewer than 40 hours in the last 30 days.
• Your gross monthly earnings are less than $450.
• You work in domestic services for fewer than 30 hours per week.
• You are paid under the Remote Jobs and Communities Program.

Monitoring Your Superannuation

Keeping track of your super is vital to ensure you receive what you are entitled to.

1. Review Pay Slips

Your employer’s superannuation contributions should appear on your payslip.

• Check Annual Statements

Super funds send annual statements detailing contributions and account balances.

• Use ATO Tools

The ATO provides a superannuation calculator to verify whether your employer is making the correct payments.

Steps to Address Superannuation Issues

If you believe your superannuation entitlements are not being met, follow these steps:

1. Gather Evidence:

Collect your pay slips, superannuation fund statements, and any communication regarding your super.

• Contact Your Employer:

Raise the issue directly with your employer to understand if the discrepancy can be resolved.

• Report to the ATO:

If your concerns remain unresolved, file a complaint with the Australian Taxation Office. They      have the authority to investigate and enforce payment.

• Seek External Support:

Contact the Australian Financial Complaints Authority (AFCA) for independent dispute resolution                 services. Their assistance is free and accessible to both employees and small businesses.

Consolidating and Managing Super Accounts

Superannuation accounts can be easily forgotten, especially when switching jobs. Here is how to manage your accounts effectively:

• Access the ATO Register:

The ATO maintains a database of unclaimed super. Use their online services to locate lost accounts.

• Utilise myGov:

Through the myGov platform, you can link your account to the ATO, allowing you to consolidate multiple super accounts.

• Keep Details Updated:

Regularly update your details with your super fund and monitor contributions through their online portals or contacting customer service

Key Legislation

1. Superannuation Guarantee (Administration) Act 1992: Governs employer contributions.
2. Fair Work Act 2009: Offers workplace protections, including superannuation entitlements.

Resources and Support

1. Australian Taxation Office (ATO): Offers tools and guidance to track and recover unpaid super.
2. Australian Financial Complaints Authority (AFCA): Provides free and independent dispute resolution.
3. Victoria Legal Aid: Offers advice and legal support for employment-related disputes, including superannuation issues.

Conclusion

Superannuation is a cornerstone of financial planning for retirement, and it is crucial to ensure your employer meets their obligations. If you encounter issues, take immediate steps to investigate and resolve them. With the support of organisations like the ATO, AFCA, and Victoria Legal Aid, you can safeguard your rights and secure your financial future.