Unpaid super surpasses $6b in 2023-24

Yasmine Raso

Senior Journalist

2 July 2026

The latest Australian Taxation Office (ATO) data release has confirmed unpaid superannuation has now risen well above the $6 billion mark as of the 2023-24 financial year, according to new Super Members Council (SMC) analysis.

The total national bill now stands at $6.3 billion across 3.4 million workers, after a $500 million increase from the previous year, and approximately 28 per cent of workers were underpaid an average of $1,850 in 2023-24, an increase of $130 from the previous year.

New South Wales accounted for more than $2 billion, closely followed by Victoria at $1.5 billion and Queensland at $1.3 billion when broken down by state. While the Australian Capital Territory had the lowest rate of underpaid workers (20 per cent), it recorded the highest average underpayment at $2,360. This was closely followed with Tasmania, with 25 per cent of workers underpaid but at the lowest average payment rate out of all the states ($1,610).

SMC chief executive, Misha Schubert, said the analysis highlights the importance of the new payday super legislation that came into effect yesterday to address the rising unpaid super “scourge”.

“Unpaid super is on the rise, cutting billions of dollars each year from Australians’ retirement savings and highlighting why payday super laws are very much needed,” she said.

“Payday super will not only help to stamp out unpaid super – it could put more than $9,000 more in the average Australian worker’s pocket at retirement, thanks to more frequent payments and the power of compounding.”

“For employers making this transition, we appreciate the scale of the task and that’s why we support the ATO’s graduated approach on enforcement in the first 12 months.”

According to previous SMC modelling, younger workers and low-income earners are more likely to be disproportionately affected by unpaid super, as one in two workers who earn less than $25,000 a year have unpaid super entitlements.