Robert Francis
Half of Australian workers remain unaware of the most significant change to superannuation in decades, which is set to impact at least 1.2 million Australians from 1 July 2026.
That’s according to a new report surveying 1,000 working Australians, commissioned by global trading and investing platform eToro and its Australian investing app Spaceship.
The study found that half (50 per cent) of all Aussie workers have no awareness of the new rules taking effect in just 30 days, which will require employers to pay superannuation payments with each pay packet rather than quarterly. Only 14 per cent of respondents said they know “a lot” about the changes.
Once briefed on the reforms, however, Australian workers were largely in agreement on the potential benefits. Ninety-two per cent agreed Payday Super will help working Australians build more retirement savings, while 94 per cent said the changes will make it easier to notice if something is wrong with their super payments.
“The lack of awareness around Payday Super is concerning,” said 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.”
A quarter of Aussies have had problems with super payments
The survey also found that nearly one in four Australians (24 per cent) have experienced missing, late, or incorrect super payments. Receiving super with each paycheck will make it easier for employees to catch any errors as soon as they happen. However, 16 per cent are unsure of whether they’ve received late or missing payments, indicating some Australians are not checking their super regularly or may not understand how to do so.
With the recent federal budget sparing super from capital gains tax changes that will hit other investments from 2027, and momentum growing to extend compulsory contributions to workers under 18, the retirement system is becoming an even more compelling place to build long-term wealth.
“Super just became much more interesting,” Robert Francis said. “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.”
Many Aussies are about to be paid super more frequently
The research reveals the shift many workers face: only 17 per cent currently receive weekly super contributions, while 36 per cent are paid fortnightly, and one in four (25 per cent) are paid monthly. Eleven per cent said they receive super payments quarterly, which means at least 1.2 million Australians will receive more frequent super payments when the law changes on 1 July.*
The survey also uncovered a gap between Australians’ expectations and industry benchmarks. Nearly half of Australians (49 per cent) believe they need at least $800,000 to retire comfortably, with 28% saying they need over $1 million. Yet, The Association of Superannuation Funds of Australia puts the figure at $630,000 for a single person. This disconnect highlights why reforms that boost super balances, even incrementally, matter.
“We’re in a high-cost environment that’s significantly shifting the goal posts for a comfortable retirement,” said Robert 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.”
Almost half of Australians will not make super voluntary contributions before EOY
The study also revealed that 49% of Australians have not, and do not plan to, make additional super contributions before June 30.
Only 17% have made contributions above the mandatory minimum. Just under a quarter (23%) plan to, but have not done so ahead of the imminent deadline.