Super Alert – 14 August 2026: Bill proposing extension of Superannuation Guarantee to workers under 18, ASIC propose to extend various legislative instrument

Welcome to the weekly KHQ Super Alert. This week, a new Bill was introduced to Parliament proposing to extend the Superannuation Guarantee to workers under the age of 18. Meanwhile, ASIC proposed to extend the operation of various legislative instruments, including two superannuation specific instruments.

Parliament – Bill to ensure employees under 18 receive employer superannuation contributions introduced

On 12 August 2026, the Superannuation Legislation Amendment (Fair Super for Young Workers) Bill 2026 (Bill) was introduced to the Senate as a private member’s Bill where it was read for a first and second time. According to the Explanatory Memorandum, the Bill ‘removes the existing legislative exemption that allows regulations to exclude employees under 18 from superannuation guarantee coverage and repeals the associated regulatory provisions that currently deny superannuation to many young workers’.

The current exclusion of under 18s from compulsory employer superannuation contributions ‘impacts around 515,000 workers under the age of 18 (around 93%), who work less than 30 hours per week’.

Should the Bill be passed, it will amend the Superannuation Guarantee (Administration) Act 1992 and the Superannuation Guarantee (Administration) Regulations 2018.

The Bill is currently before the Senate and awaiting further consideration.

Click here and here for details.

ASIC – ASIC proposed to extend financial services legislative instruments

On 11 August 2026, ASIC announced it is seeking feedback on its proposal to extend the operation of eight legislative instruments, including the following superannuation specific instruments:

• ASIC Corporations (In-use Notices for Employer-sponsored Superannuation and Superannuation Dashboards) Instrument 2022/496; and
• ASIC Corporations (Shorter PDS and Delivery of Accessible Financial Products Disclosure by Platform Operators and Superannuation Trustees) Instrument 2022/497.

Without the extension, the superannuation instruments will self-repeal on 1 October 2027, however, ASIC proposes to extend the instruments sunsetting dates until 1 October 2032.

ASIC has assessed the instruments and confirmed for each that ‘the instrument operates effectively and efficiently, and continues to be a useful and necessary part of the regulatory framework, and no amendments to the instrument are necessary, other than amending the self-repeal date’.

ASIC is seeking feedback on the following specific questions:

• ‘Do you support ASIC’s proposal to extend the operation of the instruments by amending their self-repeal dates?’;
• ‘Are there any matters ASIC should consider before extending any of the instruments?’; and
• ‘Would allowing any of the instruments to self-repeal cause practical or regulatory issues?’

The consultation period ends on 8 September 2026.

Click here for details.

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