The gig economy and super: a solution is harder than you think.
On September 7, the ABC published the results of an inquest by the Association of Superannuation Funds of Australia (ASFA) on companies such as Uber, Airtasker and other major gig economy players.
The premise; that low-paid, unskilled workers who rely on the gig economy to make a living are missing out on mandatory employer superannuation.
Having done some consulting in the past, it’s easy to forget that you take on a lot of responsibilities that may have been taken for granted in a formal employee/employer relationship.
Things like tax, insurance and Superannuation are now yours to manage. I’m sure many are enamoured by the lure of the high daily rates and don’t think about what used to be going to their Super account. I know I did. But don’t be hasty in blaming the GIG economy or the organisations that access its benefits. When thinking about what work looks like for you, make sure you understand the implications of the increasing variety of options.
What do you think? Check out the ABC’s original article here and let us know in the comments below.