Australia's superannuation industry and unions welcome new payday super legislation to align employer contributions with pay cycles, while others voice concern about the impact on small business.

Treasurer Jim Chalmers on Thursday introduced the Payday Superannuation Bill into parliament, which would require employers beginning July 1 to make superannuation contributions within seven business days of payday.

Dr Chalmers said it would strengthen Australia's superannuation system and combat wage theft.

Unpaid super totalled almost $5.2 billion in 2024/25, he said, and more frequent payments should help with detecting unpaid super contributions more quickly.

"Our government is ensuring more Australians earn more, keep more of what they earn and retire with more too," the treasurer said.

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