When I first started working in super over 20 years ago, one of my first jobs was to chase up employers over unpaid super. Back in those dark days, employers had to pay super once a year, and if they didn’t, there was a very good chance that their staff’s insurance would cut out. A huge risk! And certainly the pay slips would be inaccurate as they listed a fortnightly super contribution as ‘paid’ when it wasn’t really paid because it would be paid to the fund at the end of the year.
The unfortunate members also lost out on the investment earnings for that year. To be fair, I should say that in my experience all the large diocesan pay offices, independent schools and other ‘systems’ paid their staff super regularly on a fortnightly basis (like wages). It was always some of the smaller employers in the ‘for profit’ sector who reneged on their payments and had to be chased up. It seemed that super, unlike wages, could be deferred indefinitely as an ‘unessential’ payment. In this scenario members who were owed super had to contact a very busy ATO to try to recover their lost super. If the business went bankrupt (which I have seen), it was a matter of trying to find the responsible parties/employers. Good luck!
Moving out of the dark ages and with required insurance premiums in mind, the rules changed to mandatory quarterly payments to be made within 30 days from the end of the quarter. This was much better and employer contributions could be tracked more easily. Defaulting employers could be contacted and an element of transparency was introduced. Also, super members received the benefit of investment earnings which they previously missed out on. This system is still current.