{"id":2511,"date":"2023-11-16T03:55:20","date_gmt":"2023-11-16T03:55:20","guid":{"rendered":"https:\/\/blog.villages.com.au\/?p=2511"},"modified":"2023-11-16T03:56:47","modified_gmt":"2023-11-16T03:56:47","slug":"683-8-million-in-unpaid-superannuation-has-been-put-into-australians-retirement-savings","status":"publish","type":"post","link":"https:\/\/blog.villages.com.au\/retirement\/683-8-million-in-unpaid-superannuation-has-been-put-into-australians-retirement-savings\/","title":{"rendered":"$683.8 million in unpaid superannuation has been put into Australians\u2019 retirement savings"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2511\" class=\"elementor elementor-2511\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f142d65 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f142d65\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f01fb48\" data-id=\"f01fb48\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d2a14c6 elementor-drop-cap-yes elementor-drop-cap-view-stacked elementor-widget elementor-widget-text-editor\" data-id=\"d2a14c6\" data-element_type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>T<strong>he Australian Tax Office (ATO) has revealed it has found the non-payment of super entitlements it has found and distributed them to super funds and individuals boosting their retirement savings.<\/strong><\/p><p>The money is from unpaid super raised by employee complaints, ATO compliance activities and voluntary employer disclosures.<\/p><p>For the 2022-23 financial year, the ATO collected and distributed $387 million of super-guarantee entitlements to the funds of around 485,000 workers.<\/p><p>ATO deputy commissioner Emma Rosenzweig said most employers were doing the right thing, with more than 94% of employers paying the correct super guarantee amount to employees.<\/p><p>Emma though added the ATO took non-compliance with super-guarantee obligations seriously.<\/p><p><em><strong>\u201cSuper belongs to employees for their future retirement savings and we do everything we can to ensure Australia\u2019s hard-working employees are receiving their lawful entitlements from their employers,\u201d <\/strong>she said.<\/em><\/p><p>Employers who don\u2019t pay super in full, on time and to the right fund, are liable for the super-guarantee charge. This is more than the super employers would have otherwise paid to the employee\u2019s fund.<\/p><p>The ATO said it raised more than $1.13 billion in super-guarantee charge liabilities during the 2022-23 financial year.<\/p><h3><strong>How to claim unpaid super<\/strong><\/h3><p>She recommended employees firstly contact their super fund to get the most recent information about their account.<\/p><p>Employers currently only have to pay super at a minimum of four times a year, however, some may pay more frequently and align with your salary payment.<\/p><p>New rules will come into effect from July 1, 2026, which will require employers to pay their employees\u2019 super at the same time as their salary and wages.<\/p><p><strong>If your employer hasn\u2019t paid your super correctly, you can report your employer to the ATO using its online tool.<\/strong><\/p><p>\u201cWe encourage employees to get in touch with us as soon as possible if they believe they aren\u2019t being paid their eligible super,\u201d Rosenzweig said.<\/p><p><strong>\u201cWe review and respond to every notification of unpaid super received from an employee. This process can take some time, and we can\u2019t promise we\u2019ll be able to recover all your unpaid super, but we\u2019ll do our best and keep you updated along the way.\u201d<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The Australian Tax Office (ATO) has revealed it has found the non-payment of super entitlements it has found and distributed them to super funds and individuals boosting their retirement savings. The money is from unpaid super raised by employee complaints, ATO compliance activities and voluntary&#8230;<\/p>\n","protected":false},"author":1,"featured_media":2512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"_mi_skip_tracking":false,"footnotes":""},"categories":[71,70],"tags":[97,77,95],"class_list":["post-2511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money","category-retirement","tag-explained","tag-financial-advice","tag-tips"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/2511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/comments?post=2511"}],"version-history":[{"count":10,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/2511\/revisions"}],"predecessor-version":[{"id":2522,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/2511\/revisions\/2522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/media\/2512"}],"wp:attachment":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/media?parent=2511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/categories?post=2511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/tags?post=2511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}