Super slip-ups are leaving Aussies out of pocket—are you making the same mistake?
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Many older Australians are focused on securing a comfortable retirement—but what if a critical part of that plan is being overlooked?
New findings have revealed a surprising gap in how Aussies are managing one of their most important financial assets.
What’s emerging paints a concerning picture about our awareness and engagement with our superannuation.
Many Australians worked for decades expecting their superannuation to quietly grow in the background—yet a surprising number had no idea how much they had saved.
New research from the Commonwealth Bank (CBA) uncovered a concerning trend: around one-third of Aussie workers were unaware of their current super balance, and some had never checked it.
That included 11 per cent who had never looked at their super at all, along with 31 per cent who didn’t know how their money was invested. That confusion was even higher among women and Gen Z, with both groups reaching 46 per cent.
Despite super being a long-term savings priority for many, a large chunk of the population appeared disengaged. CBA's personal finance expert Jessica Irvine pointed out: ‘Being financially confident doesn’t mean having it all figured out. It means being informed, asking questions, and taking small steps forward.’
So, what was getting in the way? For some, it might have been forgotten login details. For others, a lack of interest—or an assumption that super would just take care of itself. But as it was reported, those assumptions could come at a cost.
James Koval, chief policy and advocacy officer at the Association of Super Funds Australia (ASFA), highlighted why staying on top of your super matters.
‘The benefits of doing this range from picking up if there are any errors in super payments, to checking you’re in the right investment option for your time of life, risk appetite and personal preferences,’ he said.
Even though many Australians had at least one financial goal in place—CBA found 95 per cent of people were working towards something—retirement planning didn’t always come first.
Saving for a holiday topped the list at 42 per cent, while 29 per cent said their focus was growing their super to retire comfortably. That barely edged out paying off a mortgage (28 per cent), building an emergency fund (27 per cent), investing in the sharemarket (19 per cent), and clearing student loans (18 per cent).
Koval told shared that ignoring super was understandable—but fixable.
‘Fortunately, it’s never been easier to engage with your super,’ he said. ‘Many funds have apps, and members can also see their super balance on MyGov. Just one minute checking your super can make a huge difference to your retirement.’
He stressed that today was the best time to get started. Once logged in, Australians could review how their money was being invested—and make changes if the default option didn’t suit them. Super funds or financial advisors could help tailor investments to individual needs.
There was also a major reform on the horizon: Payday Super.
While not yet legislated, the change—set for 1 July 2026—would require employers to pay super at the same time as salaries and wages, rather than quarterly or less frequently. Koval believed this could lead to increased engagement and more accurate contributions.
‘This change won’t only ensure millions of Australians get paid the super they are owed, but will also get them more engaged with their super, and that’s only a good thing,’ he said.
CBA’s findings served as a wake-up call for anyone unsure about their retirement fund. And as Koval suggested, the most powerful move you could make might take just sixty seconds.
With decades of hard work behind you, how often do you actually check in on the super you’ve earned? Let us know your thoughts in the comments.
In a previous story, we looked at why some retirees are still feeling financial pressure—despite having left the workforce.
For older Australians hoping their super would be enough, recent changes have stirred up new concerns about long-term security.
If you’ve been feeling uneasy about what’s ahead, that article is worth a read too.
Read more: Retired and still worried about money? A new superannuation change is sparking fresh fears
New findings have revealed a surprising gap in how Aussies are managing one of their most important financial assets.
What’s emerging paints a concerning picture about our awareness and engagement with our superannuation.
Many Australians worked for decades expecting their superannuation to quietly grow in the background—yet a surprising number had no idea how much they had saved.
New research from the Commonwealth Bank (CBA) uncovered a concerning trend: around one-third of Aussie workers were unaware of their current super balance, and some had never checked it.
That included 11 per cent who had never looked at their super at all, along with 31 per cent who didn’t know how their money was invested. That confusion was even higher among women and Gen Z, with both groups reaching 46 per cent.
Despite super being a long-term savings priority for many, a large chunk of the population appeared disengaged. CBA's personal finance expert Jessica Irvine pointed out: ‘Being financially confident doesn’t mean having it all figured out. It means being informed, asking questions, and taking small steps forward.’
So, what was getting in the way? For some, it might have been forgotten login details. For others, a lack of interest—or an assumption that super would just take care of itself. But as it was reported, those assumptions could come at a cost.
James Koval, chief policy and advocacy officer at the Association of Super Funds Australia (ASFA), highlighted why staying on top of your super matters.
‘The benefits of doing this range from picking up if there are any errors in super payments, to checking you’re in the right investment option for your time of life, risk appetite and personal preferences,’ he said.
Even though many Australians had at least one financial goal in place—CBA found 95 per cent of people were working towards something—retirement planning didn’t always come first.
Saving for a holiday topped the list at 42 per cent, while 29 per cent said their focus was growing their super to retire comfortably. That barely edged out paying off a mortgage (28 per cent), building an emergency fund (27 per cent), investing in the sharemarket (19 per cent), and clearing student loans (18 per cent).
Koval told shared that ignoring super was understandable—but fixable.
‘Fortunately, it’s never been easier to engage with your super,’ he said. ‘Many funds have apps, and members can also see their super balance on MyGov. Just one minute checking your super can make a huge difference to your retirement.’
He stressed that today was the best time to get started. Once logged in, Australians could review how their money was being invested—and make changes if the default option didn’t suit them. Super funds or financial advisors could help tailor investments to individual needs.
There was also a major reform on the horizon: Payday Super.
While not yet legislated, the change—set for 1 July 2026—would require employers to pay super at the same time as salaries and wages, rather than quarterly or less frequently. Koval believed this could lead to increased engagement and more accurate contributions.
‘This change won’t only ensure millions of Australians get paid the super they are owed, but will also get them more engaged with their super, and that’s only a good thing,’ he said.
CBA’s findings served as a wake-up call for anyone unsure about their retirement fund. And as Koval suggested, the most powerful move you could make might take just sixty seconds.
With decades of hard work behind you, how often do you actually check in on the super you’ve earned? Let us know your thoughts in the comments.
In a previous story, we looked at why some retirees are still feeling financial pressure—despite having left the workforce.
For older Australians hoping their super would be enough, recent changes have stirred up new concerns about long-term security.
If you’ve been feeling uneasy about what’s ahead, that article is worth a read too.
Read more: Retired and still worried about money? A new superannuation change is sparking fresh fears
