## 1 Introduction  
Australian superannuation is a retirement savings system that is mandated by the Australian government [1]. It requires employers to make contributions to a superannuation fund on behalf of their employees, which are then invested in various assets to grow over time. The purpose of the superannuation system is to provide retirement income for Australians, in addition to the government-provided age pension. Employees can also make voluntary contributions to their superannuation fund, and the government provides tax incentives to encourage people to save more for retirement. Superannuation funds in Australia are regulated by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) [2]. When individuals reach retirement age, they can withdraw their superannuation savings as a lump sum or as a regular income stream. According to Commonwealth Australia (2023), more than 75 percent of Australians have accounts with superannuation companies to manage their employer contributions. Over the years it has grown from AUD 148 billion to AUD 3.3 trillion, and represents 139.6 percent of the national GDP [3]. According to APRA [4], at the end of March 2023,superannuation assets amounted to over AUD 3.5 trillion, an increase in value of 3.2% from the December 2022 quarter. Employer contributions were AUD 30.2 billion for the quarter and AUD 118.6 billion for the entire year that ended in March 2023, representing increases of 12.6% from the fiscal year which ended in March 2022. This is partly because of the Superannuation Guarantee (SG) rate increase to 10.5% as of 1 July 2022, along with the positive trends in the labor market for the year. Around three-thirds of employer contributions for the four quarters up to March 2023 came from SG contributions (AUD 91.8 billion), and this percentage is anticipated to rise in line with future SG increases [4]. [PERSON] [5] analyses the Australian superannuation system from the standpoint of human rights, aiming to contribute to the debate on superannuation by examining not only whether the current superannuation policy is sufficient to meet Australia's human rights commitments under the International Covenant on Economic, Social, and Cultural Rights (ICESCR) in relation to the provision of retirement income, but also whether the government's approach, associated with the governance of the superannuation industry and its management of retirement funds, is satisfactory [5]. Similar to Australia's superannuation system, most countries have retirement funds in place to support their working class and offer financial stability. For example, in Europe, there are several retirement savings options such as pension funds, individual retirement accounts (IRAs) and annuities. In Asia, mandatory provident funds (MPFs), national pension systems and private pension plans are part of retirement savings. Whereas, in the United States, there are several retirement savings options available, including 401(k) plans, individual retirement accounts (IRAs) and social security. In Australia, the Superannuation Guarantee (SG) was implemented at a rate of 3% in place of a pay raise and as a method of increasing retirement savings in 1992. It has now become a legal matter [6]. The Australian Taxation Office (ATO) provides the most up-to-date information on superannuation, and it shows that as of 1 July 2022, the SG rate is 10.5% of employees' wages, and employers are required to pay this amount to employees' super funds at least once in every quarter [7]. By July 2025, the employer contribution mandated by law will have increased to 12% of income [8]. When making payments, small businesses are able to pay superannuation through the Small Business Superannuation Clearing House (SBSCH), which is a free service provided by the Australian federal government through the ATO [9]. There have been many cases of outstanding super contributions in recent years, and this has been a contentious issue among the Australian government and industry experts.