Treasurer Jim Chalmers. Source: AAP Image/Lukas Coch
Employers will need to pay their workers’ superannuation every time they pay their regular wage, thanks to a significant change to retirement saving rules introduced by the Albanese government.
On Tuesday, Treasurer Jim Chalmers and Assistant Treasurer Stephen Jones announced the long-established pattern of quarterly superannuation guarantee (SG) payments will end on July 1, 2026.
The plan promises to reshape how businesses big and small handle earnings locked away for their employees’ retirement.
Here is what employers need to know about the change.
What is being proposed?
Superannuation is a mandatory payment employers must make on behalf of their workers, with the intent of providing them a financial safety net when they leave the workforce.
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