WorldRecent
'Outdated' law costs teen workers $411m in superannuation, modelling shows
AB
ABC News Australia
Original Reporting
AI EXECUTIVE SUMMARY
New modeling indicates that teen workers in Australia lose millions of dollars annually because of an exemption that excludes employees under 18 working fewer than 30 hours a week from receiving mandatory retirement contributions. Under current regulations, employers are not legally required to pay superannuation to young part-time workers who meet these specific age and hour thresholds.
WHY IT MATTERS
This statutory loophole deprives hundreds of thousands of young workers of significant retirement savings before they even reach adulthood.
Workers aged under 18 who work less than 30 hours a week for one employer do not currently get paid superannuation.
This story was originally reported by ABC News Australia. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.