Vuélvete ilimitado con Magzter GOLD
Obtenga acceso ilimitado a más de 9000 revistas, periódicos e historias Premium por solo
Intentar ORO - Gratis
Government's rush to implement Payday Super is 'reckless': Coalition
Financial Standard
|November 03, 2025
Although Payday Super addresses critical issues, including the $5 billion in unpaid super, the Coalition believes the government's "rushed implementation" of the bill could hurt the economy.
Payday Super, which is slated to come into effect on 1 July 2026, was read for the second time on October 28. Addressing the lower house, Treasurer Jim Chalmers said the Treasury Laws Amendment (Payday Superannuation) Bill 2025 will help stop "disreputable" employers from exploiting their employees, with over $5 billion in unpaid super that should have gone to workers.
"Super is an entitlement for workers, like salary or wages, and unpaid super is a form of wage theft," Chalmers said.
"This issue disproportionately affects more vulnerable Australians and also Australia's working women.
"This bill will help put a stop to it."
Deputy leader of the opposition Ted O'Brien said the Coalition supports the principle of Payday Super but proposed a more gradual rollout.
Esta historia es de la edición November 03, 2025 de Financial Standard.
Suscríbete a Magzter GOLD para acceder a miles de historias premium seleccionadas y a más de 9000 revistas y periódicos.
¿Ya eres suscriptor? Iniciar sesión
MÁS HISTORIAS DE Financial Standard
Financial Standard
'We've let our members down': Watson
Outgoing First Super chief executive Bill Watson has told Financial Standard he has grave concerns about the current trajectory of Australia's superannuation industry.
2 mins
March 23, 2026
Financial Standard
Treasury proposes advice education standard reforms
Treasury is proposing to overhaul the curriculum and learning outcomes for new entrants in financial advice, admitting that current requirements are \"excessive compared to other professions\".
2 mins
March 23, 2026
Financial Standard
Nest to vote down boards on climate
UK pension giant Nest will now vote against board chairs where the company they oversee has materially scaled back its climate commitments without explanation.
1 min
March 23, 2026
Financial Standard
Fund Executive of the Year named
The 2026 FEAL Fund Executive of the Year was awarded to CareSuper chief executive Jason Murray.
1 min
March 23, 2026
Financial Standard
CALI pushes for advice reforms as Aussies turn to AI
More Australians are turning to artificial intelligence (AI) for insurance advice, underscoring the need for the government to deliver on its advice reforms, the Council of Australian Life Insurers (CALI) said.
1 mins
March 23, 2026
Financial Standard
Major super reforms cost members $670m in benefits
The Protecting Your Super Package (PYS) and the Putting Members’ Interests First (PMIF) reforms result in $670 million in foregone death benefits each year, new research from the Association of Superannuation Funds of Australia (ASFA) shows.
2 mins
March 23, 2026
Financial Standard
Aware, TelstraSuper to merge April 30
With a signed successor fund transfer deed, Aware Super and TelstraSuper are now just a couple of months out from merging.
1 mins
March 23, 2026
Financial Standard
Brisbane adviser appears in court
Brisbane financial adviser Sunny Mahendra Prakash appeared in the city's Magistrates Court on March 6 to face multiple charges of dishonesty offences.
1 min
March 23, 2026
Financial Standard
ASIC considers changes to net asset requirements for REs
ASIC is seeking feedback on options for increasing the net tangible assets (NTA) requirement for responsible entities of registered managed investment schemes.
2 mins
March 23, 2026
Financial Standard
LEADING WITH TRUST
Akumin chief executive Matt Lawler is steering AMP's adviser network through its split from the wealth giant and charting a new path forward.
4 mins
March 23, 2026
Listen
Translate
Change font size