Millions of Australians are set to benefit from a major change to the country's superannuation system.
Employers will soon be required to pay a worker's super contributions at the same time as their salary or wage, starting from July 1, 2026.
However, the reform is now one step closer with the release of the government's Securing Australians' Superannuation consultation paper on Monday which allows industries and stakeholders to give their input on the proposed laws. The Treasury estimates about 8.9 million people will be better off at retirement from receiving their super contributions earlier and more often during their working life.
The government will also seek feedback on how an employee's choice of fund could be improved under payday super.
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