Hey guys! Welcome back to our education series, ‘Super with Storm’. Today I’m going to explain when you get paid super.
How do you know when your boss has actually paid you super? There are two steps to this.
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. But that’s not the case. Your payslip 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 28th January, 28th April, 28th July, and 28th October. Now most employers pay in accordance to those dates. But they can pay more often if they choose.
The simplest way to check 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 every video, but super is your money. So no one else is going to check if you’re getting paid the right amount.
Let’s get your super organised!
Please note that the diclaimer in the video is out of date. Student Super changed trustee from Tidswell to Diversa on December 18, 2020. Please see the Significant Event Notice for more information.