Right to Super to be enshrined in National Employment Standards
Aspen Corp • 2 May 2023
The Government has announced that it will enshrine a right to superannuation payments in the National Employment Standards (NES).
Currently, workers not covered by a modern award or an enterprise agreement containing a term requiring an employer to make superannuation contributions have to rely on the ATO to recover their lost superannuation entitlements.
By bringing the right to superannuation into the NES, workers will have the right to directly pursue superannuation owed to them. Employers may also face civil penalties if they do not comply with the entitlement.
Penalties of up to $82,500 per breach apply to companies that are found to have contravened the NES.
The ATO’s most recent estimate of unpaid superannuation indicates that workers lost $3.4 billion in unpaid super in 2019‑20.
The Reserve Bank of Australia (RBA) delivered a 25 basis point rate cut, lowering the cash rate from 3.85% to 3.60%, the third reduction this year.
On 1 July 2025 the superannuation guarantee rate increased to 12% which is the final stage of a series of previously legislated increases.
The Governments intention is to ban non-compete clauses for low and middle-income employees and consult on the use of non-compete clauses for higher incomes.
The Productivity Commission (PC) has been tasked by the Australian Government to conduct an inquiry into creating a more dynamic and resilient economy.
The Australian Government has passed new legislation to reduce student loan debt by 20% and change the way that loan repayments are determined.
The Reserve Bank of Australia (RBA) held the cash rate steady at 3.85% in July.
