Industry super funds started to change all that though in the mid-to-late 1980s following campaigns led by the Australian Council of Trade Unions (ACTU). By 1992 compulsory super (the superannuation guarantee) was introduced, requiring all employers to make mandatory contributions for their employees.

How long has superannuation been compulsory in Australia?

In 1992, the government made superannuation compulsory to ensure that every working Australian saved for their retirement. The policy aimed to address the challenge of retirement income in three ways.

When did Australia introduce superannuation?

From 1991, the Superannuation Guarantee (SG) was introduced. This compulsory superannuation system ensured Australian employers paid their employees' super, boosting super coverage to 80%.