Around 2.76 million or almost one third of Australian workers eligible for super are missing out on some or all of their entitlement
Under the Superannuation Guarantee (SG) employers must contribute 9.5 per cent into the super account of every worker over the age of 18 earning $450 a month, and little is being done about it, a new report reveals.
But, using official ATO and ABS data, Industry Super Australia and Cbus have conservatively calculated that rogue employers are dodging compulsory superannuation payments
The research found that 2.76 million people were affected in that financial year by an average amount of $2,025 per person, or an aggregate amount of $5.6 billion.
Industry SuperFunds are calling on the government to improve the system better by providing more resources to get employers paying super as they're supposed to and closing loopholes in the law.