ACT’s workforce has missed out on $62 million in retirement contributions in just one year, unless politicians fix the mess by mandating that super is paid on payday thousands of local workers will continue to miss out.
Industry Super Australia (ISA) analysis of the latest tax data shows 31,000 ACT workers lost an average of $1,993 in 2019-20. Those dudded on super can end up retiring with up to $60,000 less.
Younger women are greatly impacted – over the seven years from 2013 to 2020, female ACT residents were unpaid an eyewatering $137 million in superannuation.
*The above material, whilst correct at the time of publication may include references or statements which are no longer current.