The one in every six workers who took up the Morrison Government's invitation to withdraw their super during the pandemic mostly took the maximum $20,000 or their whole account balance, tended to spend the windfall on gambling and consumer items, and cut their retirement income by $120,000 in today's dollars, according to a new academic study.
TPG Telecom says it used a legal documents designer and best-practice inclusivity guidelines to create an engaging, accessible post-merger deal with "amazing" conditions, but the CEPU's communications division says it delivers a pay cut and unfairly shifts the goalposts on penalty rates.
The Albanese Government will cap the concessional tax treatment for earnings from superannuation accounts with balances exceeding $3 million from July 2025, it announced today.
The Albanese Government will soon introduce further IR legislation to include superannuation payments in the National Employment Standards (NES), clarify coverage of temporary migrant workers and ensure stronger access to unpaid parental leave.
The FWC will review superannuation clauses in more than 100 awards over concerns that they could conflict with last year's legislative changes to "stapled" funds and underperforming products.
Federal Treasurer Jim Chalmers says that Labor's "big agenda" on superannuation does not currently include lifting compulsory super contributions from 12% to 15%.
The Albanese Labor Government is rushing through legislation to close a loophole that could add billions of the dollars to the defined benefit superannuation entitlements of about 10,000 federal public sector employees who have been posted overseas over the past three decades.
The CBA is rolling out new contracts for staff on legacy individual flexibility arrangements and admitting ahead of a Federal Court hearing that the IFAs breached the Fair Work Act, but the FSU says it must get the process right for those wanting to revert to the agreement.
The Queensland Government appears to be continuing the rollout of its revised public sector wages policy, reaching an in-principle deal with the State's teachers that will deliver 11% in pay rises over three years, plus "cost of living top-up payments" of up to 3% a year.
