The Turnbull Government has confirmed today that it will re-introduce legislation to require industry super funds to have at least one-third independent directors, including an independent chair.
One of the architects of the $2.1 trillion industry super fund movement, Garry Weaven, has warned that it must remain true to its roots and maintain its "members first" ethos even though it increasingly run by financial services professionals.
Qantas will provide 10 days domestic and family violence leave and two extra weeks of parental leave to all of its 30,000 employees later this year, after it struck an enterprise deal with the ASU that guarantees the entitlements for more than 4,000 employees.
An appeal by an Italian consulate over disputed annual leave and superannuation entitlements has failed after a court ruled it was not immune from proceedings brought under Australian law.
The peak industry super body is backing today's Turnbull Government decision to scrap plans to limit lifetime non-concessional super contributions to $500,000 and to instead reduce the current annual cap from $180,000 to $100,000.
The Productivity Commission is inviting submissions on whether its proposed objectives, criteria and indicators for assessing the competitiveness and efficiency of the nation's $2 trillion superannuation system are "fit for purpose".
The ACTU is calling for the next federal government to reduce the statutory age at which Indigenous workers can retire and access superannuation because they are currently "more likely to die than retire".
The NTEU has called on the UniSuper industry superannuation fund's chief executive officer, to withdraw his public statement opposing Labor's planned $53M royal commission into the finance sector.
The administrators of Clive Palmer's Queensland Nickel Pty Ltd have recommended the company be put into liquidation next week, opening the way for hundreds of sacked workers to be paid under the Federal Government's Fair Entitlements Guarantee.
The Victorian County Court has given suspended jail sentences to two former Cbus employees who pleaded guilty to giving false and misleading evidence to the Heydon Royal Commission.
