Superannuation page 6 of 12

112 articles are classified in All Articles > Entitlements and standards > Superannuation


FWC to lose default fund role under PC proposal

The Productivity Commission has recommended severing default super fund allocation from the IR system, in its draft report on the superannuation system that confirms industry funds are "systematically" outperforming retail funds by a wide margin.

Superannuation laggards offered amnesty

The Turnbull Government has introduced legislation granting employers a one-off, 12-month amnesty for historical underpayment of the superannuation guarantee.

Consulates must yield to local IR laws: Bench

An Italian consulate has failed to convince a full Federal Court that it is immune from underpayment claims pursued under Australian IR laws by two former employees who signed contracts linking their entitlements to Italian legal and industrial arrangements.

Ditch dodgy banks, ACTU urges industry super funds

ACTU secretary Sally McManus has called for the $590 billion industry superannuation fund sector to reconsider their commercial relationships with "dodgy banks" named at the Hayne Royal Commission into the finance sector.

Store owner fined for withholding $450,000 in union dues, super

The Federal Circuit Court has levelled a $75,000 fine and is expected to order more than $25,000 in compensation against the director of a liquidated supermarkets enterprise who withheld about $450,000 in union dues, superannuation and Easter rates from more than 200 employees.




Spotlight to fall on union cash from super funds

The Turnbull Government will this week introduce legislation giving APRA greater powers to investigate superannuation funds, including the fees and sponsorships directed from industry super funds to unions.

Big pay cut for CBA head of HR after axing of bonuses

CBA HR chief Melanie Laing has suffered a 52% pay cut following a decision by the company's board to cut to zero the short-term incentive payments for group executives, while a superannuation review has revealed about $16.7 million in underpayments to 36,000 current and former bank employees.