On 9 October, the government introduced Payday Super legislation into parliament to take effect 1 July 2026. This measure is not yet law.
Key changes for super funds include:
- Employers must pay superannuation guarantee (SG) at the same time as salary and wages. SG contributions will generally need to arrive in employees’ super funds within 7 business days of payday.
- The deadline for super funds to allocate or return contributions that cannot be allocated will be reduced to 3 business days, down from 20.
- The SuperStream data and payment standards will be revised to allow faster payments via the New Payments Platform and improve error messaging to ensure employers and intermediaries can quickly address errors. A new SuperStream Member Verification Request (MVR) message is also being developed for employers to verify an employee’s super fund details are correct and the super fund will accept a contribution.
- All funds, including SMSFs and non-regulated funds that voluntarily participate in SuperStream will need to ensure they are ready to implement these changes by 1 July 2026.
- Funds should talk to their Digital Service Providers about build and support plans for the release of these new servicesExternal Link.
For more information, visit ato.gov.au/paydaysuper.
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