One in four Victorian are underpaid super and it is costing them $1 billion in a year, and unless politicians fix the mess by mandating that super is paid on payday, workers will continue to miss out.
Industry Super Australia (ISA) analysis of the latest tax data shows 642,000 Victorian workers were not paid an average of $1,617 in 2019-20 of money they are owed. (See table 1)
Over seven years Victorians have missed out on an eyewatering $7.7 billion.
New ISA research reveals blue-collar workers are more likely to be unpaid their superannuation – making up about 40% of unpaid super losses, despite being only 26% of Victoria’s workforce.
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