Geelong workers lost a total of $60m in super across one year

One in four workers in Corio and Corangamite were short-changed super in a year, new research shows.

Super Members Council chief executive Misha Schubert said new laws could help Geelong residents avoid underpayments. Picture: Eamon Gallagher

Geelong workers were short-changed more than $60m in unpaid superannuation over the course of a year, affecting one in four people, new research shows.

Data produced by Super Members Council analysis of tax file data revealed workers in the federal electorates of Corangamite and Corio lost $63.4m in unpaid superannuation during the 2021-22 financial year.

In Corio, 17,050 people were underpaid an average of $1800, totalling $30.7m.

This means 25 per cent of Corio residents were underpaid throughout that year.

In Corangamite, that number was 29 per cent, with 19,550 people underpaid an average of $1670, totalling $32.7m.

Twenty nine per cent of workers in Corangamite were underpaid super in 2021-22 according to the Super Members Council. Source: Australian Electoral Commission (2024).

In the five year period leading up to the 2021-22 financial year, Corio had $143.4m lost in unpaid super, while Corangamite had $134.4m.

Across the state, Victorians lost $1.3b in unpaid super with more than 755,000 workers missing out, averaging $1740.

Super Members Council is warning against any delays to “crucial reform” that is to be introduced by the government in July 2026 which would see super paid on pay days, rather than the current requirement of at least once per quarter.

Chief executive Misha Schubert said these laws would help Geelong workers avoid underpayments.

“Paying super on paydays will modernise the super system to stem underpayments for Geelong workers,” Ms Schubert said.

Ms Schubert has urged against any delay in reform that would see workers paid super on pay days. Picture: Supplied

“This urgently needed reform will be fairer for both workers and employers.

“Unpaid super makes people poorer when they retire.

“Passing payday super laws to start in July 2026 is key to ensure Geelong workers currently being short-changed are paid their super on time and in full.”

“Geelong workers are paying the price every single day their super goes unpaid – and cannot afford any delay to the introduction of payday super.”

The federal government is yet to release the legislation for consultation and few sitting weeks remain before an election is due by May 17.

It hasn’t been without push back either, the Council of Small Business Organisations Australia has previously called for small businesses to have the option to pay super monthly, and raised concerns about penalties for late payments that may be out of their control.

Multiple instances of workers being owed super by companies going into liquidation around Geelong have been reported in recent months.

In September, a former employee of Axcess Demolition and Excavations said he was owed $20k.

“I reported it to the ATO and from then on I’ve just been given the run-around,” he said.

“It’s not great – that’s my future one day. $20,000 is not a great deal, but over another 50 years, the interest on that is the money I’m missing out on.”

Originally published as Geelong workers lost a total of $60m in super across one year