The research, which was conducted by super industry consultant Tria Partners and commissioned by Cbus, AustralianSuper and REST, found these non-payments annually account for $2.5 billion.
Tria found the average person was affected by loses of around $3,750 per annum in superannuation.
According to the research, this loss impacts more heavily on younger and lower-income Australians, with a one-off loss of this scale equating to a loss of $13,500 at retirement for someone aged 25 this year.
Chief executive of the Association of Superannuation Funds of Australia (ASFA) Pauline Vamos said the onus is on employers to make sure they are paying their super on time and correctly.
“We know that the world of super can be challenging for many employers to navigate; however, it’s their legal obligation to make sure they are paying their employees’ superannuation correctly,” said Mr Vamos.
“If they don’t, then large penalties can apply.”
She said the research also demonstrates the importance of employees being engaged with their super and checking their accounts frequently.
Mr Vamos said employees who do notice payments missing from their account should speak to their employer and if unresolved notify the Australian Taxation Office, which will be able to chase the matter up on their behalf.
Cbus chief executive David Atkin said the construction industry was “massively over-represented in the research results on non-compliance”.
“This issue not only impacts on individual workers’ retirement savings, it undermines the majority of employers who are doing the right thing in a highly competitive bidding process for work,” said Mr Atkin.
“Employers failing in their superannuation payment obligation is also especially dangerous in construction given the level of entries and exits of business in the industry.”
Ms Vamos said the research should “prompt policy makers and regulators into action”.
“There are a number of steps that can and should be immediately implemented, including better resourcing of the ATO in this area and better communication flow between regulators and funds to ensure Australians are receiving their legal entitlements,” she said.
“A good first step would be a greater level of information sharing between industry and the ATO in order to pro-actively chase up superannuation payments.”
