Half of Australians unaware of impending superannuation law change set to impact millions

By Newsdesk

June 02 2026
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In a surprising revelation, a recent study has highlighted a significant knowledge gap among Australian workers regarding a major superannuation reform set to affect over 1.2 million people from 1 July 2026. This reform, which mandates that employers pay superannuation contributions with each pay packet rather than quarterly, is one of the most substantial changes to the superannuation system in decades.

Half of Australians unaware of impending superannuation law change set to impact millions

The research, commissioned by global trading and investing platform eToro and its Australian investing app Spaceship, surveyed 1,000 working Australians. It found that a staggering 50 per cent of respondents were unaware of the new rules, which are just 30 days away from implementation. Only a mere 14 per cent claimed to know "a lot" about the impending changes.

Despite the general lack of awareness, once informed about the reforms, the majority of Australian workers recognised the potential benefits. A remarkable 92 per cent agreed that the Payday Super initiative would aid in building more substantial retirement savings, while 94 per cent believed the changes would make it easier to detect any discrepancies in their super payments.

"The lack of awareness around Payday Super is concerning," remarked Robert Francis, Managing Director of eToro Australia and Spaceship. "Super is the most powerful wealth-building tool most Australians have, and this new law will impact millions of working Australians for the better. For many, it will be their largest asset outside the family home. But as the results of this survey show, it’s often treated like an afterthought."

The study also shed light on the issues surrounding super payments, with nearly one in four Australians (24 per cent) having experienced missing, late, or incorrect super contributions. This highlights the importance of the new law, as receiving super with each paycheck will enable employees to identify and address errors more promptly. However, 16 per cent of respondents were unsure if they had received late or missing payments, suggesting that some Australians may not regularly check their super or may not know how to do so effectively.

The recent federal budget, which spared super from capital gains tax changes that will impact other investments from 2027, further underscores the importance of super as a tool for building long-term wealth. With momentum growing to extend compulsory contributions to workers under 18, the retirement system is becoming increasingly attractive.

"Super just became much more interesting," commented Francis. "It's tax-advantaged, it's protected, the guarantee is at an all-time high, and Payday Super means your money starts compounding from the time you earn it rather than sitting in your employer's account for months. It’s prime time for Aussies to become more engaged with their retirement funds."

The research also highlighted the shift many workers will experience with the new law. Currently, only 17 per cent of workers receive weekly super contributions, while 36 per cent are paid fortnightly, and 25 per cent receive monthly payments. Eleven per cent indicated they receive super payments quarterly, meaning that at least 1.2 million Australians will benefit from more frequent super payments starting 1 July.

Furthermore, the survey revealed a disconnect between Australians' retirement expectations and industry benchmarks. Nearly half of Australians (49 per cent) believe they need at least $800,000 to retire comfortably, with 28 per cent estimating they need over $1 million. This contrasts with the Association of Superannuation Funds of Australia's recommendation of $630,000 for a single person. Such a disparity underscores the need for reforms that incrementally boost super balances.

"We’re in a high-cost environment that’s significantly shifting the goal posts for a comfortable retirement," said Francis. "Australia has one of the best retirement savings systems in the world, but it still requires attention and engagement from workers to reap its full benefits."

Despite the impending changes, the study found that 49 per cent of Australians have not, and do not plan to, make additional super contributions before the end of the financial year. Only 17 per cent have made contributions above the mandatory minimum, while just under a quarter (23 per cent) intend to do so but have not yet acted before the imminent deadline.

As the countdown to this significant reform continues, it remains crucial for Australian workers to become more informed and proactive about their superannuation to ensure they can maximise their retirement savings.

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