Super shock: The Qld workers missing out on retirement savings

Shocking new figures reveal Queensland workers are being robbed of $110 million in super payments every week while legislation to fix the crisis stalls.

Super Members Council CEO Misha Schubert

One in four Queensland workers are being underpaid their super, representing a loss in retirement savings of $1.2bn each year, according to new research.

Analysis of Australian Taxation Office data by the Super Members Council found more than 679,000 Queensland workers are being shortchanged an average of $1720 each year, costing them $5.7bn over the past six years.

The federal electorate of Brisbane has the highest level of unpaid super in the state, with 26,400 people underpaid a combined $54.3m in 2022-23 and $237.7m over six years. The average underpayment was $2060.

The highest average underpayment was in Ryan, with $2300.

Federal Treasurer Jim Chalmers’ own electorate of Rankin also had a high rate of unpaid super, with 24,150 underpaid in 2022-23 to the tune of $38.3m.

About 27,500 residents in Griffith in southern Brisbane were underpaid an average of $1730.

Residents of Herbert in the state’s far north were underpaid $51 million, adding up to a total of $188.2m over six years.

With recent polling showing more than 70 per cent of Australians want payday super laws to come into effect from July 1, 2026, the council is calling on the government to “get on with” passing payday super legislation in the first 100 days of the new Parliament.

Super Members Council CEO Misha Schubert said Australians could not afford any delays.

“It’s disappointing the Government isn’t making payday super legislation a priority in this first sitting fortnight when millions of everyday Australians are losing $110m a week in retirement savings,” Ms Schubert said.

“The average worker in Queensland could be short-changed 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.”

Labor announced plans during the last parliamentary term to make payday super compulsory from July 1, 2026.

Currently, it’s compulsory for employers to pay their staff superannuation at least every three months.

The advancement of digital and single-touch payrolls have meant many employers are paying superannuation with wages, but should the law change it will be required.

The federal government is unlikely to introduce the legislation this week.