Author: Recruitment Super
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What to do if you find unpaid superannuation from a past employer
Finding out that a past employer has not paid your superannuation can be a frustrating and concerning situation. Superannuation is a crucial part of ensuring financial security in retirement, and any missed payments can have a significant impact on your future savings. If you find yourself in this situation, it’s important to take action promptly…
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How to maximize superannuation contributions if you’re self-employed
Being self-employed comes with a lot of perks, but it also means taking on the responsibility of managing your own superannuation contributions. Superannuation is crucial for ensuring a comfortable retirement, and as a self-employed individual, it’s important to take advantage of all the opportunities available to maximize your contributions. In this article, we will explore…
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ASIC Sues Australian Super Over Death Benefit Payment Delays
The Australian Securities and Investments Commission (ASIC) has taken legal action against Australian Super, the country’s largest superannuation fund, for allegedly causing significant delays in processing death benefit claims for thousands of members. ASIC claims that between July 2019 and October 2024, Australian Super failed to handle nearly 7,000 death benefit claims promptly and fairly,…
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What are your rights if your employer fails to pay your super?
Employers failing to pay their employees’ superannuation is unfortunately a common issue that many workers face. Superannuation, often referred to as super, is money set aside by employers to provide financial security for their employees in retirement. It is a mandatory contribution in many countries, including Australia, where employers are required by law to pay…
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How to check if your employer is paying the correct superannuation amount
Superannuation is a crucial aspect of financial planning for many working individuals. It is a system where employers in Australia are required to contribute a percentage of their employees’ earnings to a superannuation fund, which is then invested for the employee’s retirement. However, there are instances where employers may not be paying the correct amount…
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Childcare Provider Allegedly Owes Staff Thousands in Unpaid Superannuation
A childcare provider, Genius Education, is under scrutiny for allegedly failing to pay its South Australian employees their entitled superannuation funds. The company, which has faced closure due to regulatory concerns, left staff like Rosa, a former educator at the Blair Athol center, feeling abandoned and financially strained. The abrupt closure of the center, marked…
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How does casual employment affect superannuation contributions?
Superannuation is a crucial aspect of financial planning for all working individuals in Australia. It is a retirement savings fund that employers are required to contribute to on behalf of their employees. However, when it comes to casual employment, there are some unique considerations to keep in mind regarding superannuation contributions. The Impact of Casual…
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How to apply for early super release due to medical conditions
Dealing with a serious medical condition can be emotionally and financially draining. In some cases, individuals may need access to their superannuation funds earlier than Retirement Age to cover medical expenses or loss of income due to their condition. Fortunately, there is a provision for Early Release of Superannuation on compassionate grounds, including medical reasons.…
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Superannuation Strategies: Maximizing Wealth Beyond Traditional Savings
In the realm of financial planning, one key aspect that individuals often focus on is superannuation. Superannuation, a system designed to help people save money for retirement, is a crucial element in securing one’s financial future. While superannuation is generally regarded as a tax-effective way to accumulate wealth for retirement due to its low-tax nature,…
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Superannuation Update: Key Reasons to Diversify Your Investment Portfolio
In the realm of superannuation news, understanding the importance of diversifying your investment portfolio is crucial for optimizing your retirement savings strategy. While the superannuation system offers significant tax benefits and is globally recognized for its effectiveness, there are instances where allocating your wealth outside of superannuation can be advantageous. Diversification is a fundamental principle…