Rest Super has appointed a senior legal professional hiring from MetLife Australia.

Superannuation being used for house deposits would push up home prices, undermining Australians' home ownership prospects, slash retirement savings, and come at a significant cost to the Budget, according to a Corinna Economic Advisory report by Saul Eslake.

The legislation that will see superannuation contributions paid alongside government-funded parental leave entitlements passed parliament this morning.

Employers who fail to pay superannuation contributions within seven days of paying wages will face harsh penalties under the government's new Payday Super laws.