Hey guys!
Welcome back to our education series, “Super with Storm”. I’m Storm, and in under than two minutes I’m going to explain when you get paid super.
How do you know when your boss has actually paid you super? It’s not as simple as it first seems.
The first step is to check your payslip. Your boss has to give you a payslip each time you get paid.
On this, you’ll see three sections. Firstly, you’ll see the hours you worked, your pay rate, and your total pay. Secondly, you’ll see if you had to pay tax on any income earned. Lastly, you’ll see whether your boss has set aside any superannuation for you in that time period.
Most people look at the super on their payslip and think that means it’s already been paid. Most people don’t know this - but that’s not the case. Your payslip only shows the money that your boss has put aside to pay for your super later.
Legally, superannuation has to be paid to your super account quarterly. The latest dates for these transfers are the 28th of January, 28th of April, 28th of July, and the 28th of October. Now most employers pay in accordance to those dates. But they can pay more often if they want to.
The simplest way to check if your super has actually been paid to you is to log into your super account. At Student Super, you can view this under the transactions page.
Just remember, and I know I say this in almost every video, but super is your money. So, no one else is going to check if you’re getting paid the right amount.
Logging into your Student Super account four times a year and checking it is a really smart way to keep your super organised!
Note: Employers are required to pay 11.5% of a valid employee's ordinary time earnings. Overtime hours are generally outside of ordinary time earnings.
