Do you trust that your employer is paying you the right amount of superannuation just because it says so on your payslip?
Every year, thousands of employers fail to pay their staff the correct amount of superannuation, costing those workers billions of dollars every year. In many instances, it’s an honest mistake and easily rectified.
However, some malicious employers are looking to avoid having to pay you the correct super guarantee. You may not have realised it either if you are trusting the information on your payslip.
With the super guarantee increasing to 11% from 1 July 2023, now is the perfect time to double-check the numbers.
Checking for unpaid superannuation is very simple. You can:
If you are unsure of the amount of superannuation owed, you can also contact the Australian Taxation Office (ATO) to chase down the unpaid superannuation. They will be able to determine if there has been an offence committed and will be able to punish them. However, if a company is going through insolvency proceedings and you haven’t been paid superannuation, it can get a little more tricky.
In this instance, the ATO won’t pursue the unpaid super, but you can legally pursue the company directors in court.
If your superannuation payments are incorrect, you may want to speak with your employer or the person in charge of payroll to rectify the situation. If it becomes more complex, speak directly with the ATO to escalate the issue.