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As Australia prepares for the introduction of Payday Super next year, Industry Fund Services (IFS) continues to lead the way in ensuring superannuation fund members receive their super entitlements. In a record-breaking year, IFS collected more than $226 million in the 2024–25 financial year, bringing its total recoveries to over $2 billion for Australians. This reflects IFS’ unwavering commitment to ensuring members of profit-to-member superannuation funds receive their full entitlements.
“This achievement is a testament to the dedication of our team and the trust our clients place in us. Every dollar recovered represents a stronger retirement outcome for working Australians. We’re proud to stand alongside our clients in protecting their members’ super,” said Natalie Lister, IFS Executive Manager of Super Recoveries.
“Unpaid super is a serious issue for Cbus Super members. That’s why we are proud of the results achieved by IFS over the past financial year. Their work has helped recover unpaid super for more than a hundred thousand of our members, getting money into their accounts and working for their future as soon as possible. It’s money that would have otherwise been missing from their retirement savings and the difference it makes, especially over decades of compound returns, is huge,” said Marianne Walker, Cbus Super Deputy CEO and Chief Member Officer.
“Our members work in a sector where they are often moving from job to job, and where insolvencies are all too common, so recovery work really matters. It’s why Cbus works closely with IFS on super compliance, and we’ll keep doing everything we can to make sure members get what they’ve earned. This work continues to deliver real results for members,” added Marianne.
A recent report from the Super Members Council revealed that in the 2021–22 financial year alone, 2.8 million Australians missed out on a staggering $5.1 billion in superannuation entitlements*, a clear indication of the scale of unpaid super across the nation. The upcoming introduction of Payday Super aims to address this issue by ensuring superannuation is paid concurrently with wages, making it easier to identify and act on non-compliance sooner.
“Unpaid or missing super comes with a long-term impact - a lower balance to live off in retirement. That’s why making sure super fund members receive their full entitlements is such important work,” said Luke Fraser, AustralianSuper Head of Workplace Partnerships.
“With Payday Super proposed to take effect on 1 July 2026, we are working closely with our partners and employers to ensure they are supported through this transition. Our focus is on delivering compliant, integrated payment technology and tailored education to help businesses save time and confidently meet their super obligations,” added Luke.
IFS is also investing in technology and automation to enhance its Super Recoveries service. The team will be implementing intelligent automation, predictive analytics, and integrated systems to improve efficiency, reduce costs, and deliver data-driven outcomes for clients.
These initiatives align with IFS’s broader mission to modernise operations and empower the profit-to-member superannuation industry through scalable, cost-effective solutions.
“Our goal is to be the go-to partner for proactive super recovery, especially as we recognise that Payday Super, while a major step forward, will not completely eradicate the issue,” added Natalie.
Ahead of the July 2026 rollout of Payday Super, employers will be required to pay super on payday, significantly tightening compliance timelines for both superannuation funds and employers.
Therefore, IFS is positioning itself as a strategic partner by:
* Super Members Council Report - Fixing unpaid super: Making super fairer for workers and employers alike. August 2024
