Super amnesty under fire at Senate hearing

Oct 30, 2019
Nine News
 

Letting bosses off the hook for unpaid superannuation through a one-off amnesty will reward bad behaviour, a Senate committee has heard.
Industry superannuation funds and unions have railed against legislation giving employers an amnesty for unpaid super since the system's inception 26 years ago.
The measure is expected to recover $160 million in unpaid retirement savings, with 7000 employers already coming forward and the same amount expected to own up once the bill passes.
Australian Institute of Superannuation Trustees, which represents industry, corporate and government funds, and Industry Super Australia are both against the bill.
AIST head of advocacy Melissa Birks said the amnesty would send the wrong message to good employers who won't be rewarded for doing the right thing.
"Poor employers, who have perhaps held that cash back and used it for other purposes, are being rewarded by allowing this amnesty to occur," she told the committee.
"That level playing field is one of our major concerns. It creates a situation where you're rewarding bad employers and punishing good ones."


Australian Council of Trade Unions assistant secretary Scott Connolly said it was a "leave pass" for employers that had done the wrong thing.
"The message that this bill sends is that it's OK not to obey the law in this country and I think that's an appalling situation for our legislature to be in," he said.
Association of Superannuation Funds of Australia deputy chief executive Glen McCrea said on balance the peak industry body supported the amnesty.
"Getting employees the money owned to them will mean higher super balances, additional investment returns and a better retirement for Australians," he said.
"It is essential that this issue of a one-off amnesty is resolved once and for all before Christmas to provide certainty to all involved."
Industry Super Australia head of research and campaigns Nick Coates said the International Monetary Fund found amnesties only worked when combined with laws targeting non-compliance.
"We believe the evidence on amnesties is at best mixed and may struggle to successfully redress the misconduct or recover the monies that is owed to workers," he said.
ISA estimates there's almost $6 billion in superannuation entitlements not being paid to Australians every year.
Deputy small business ombudsman Craig Latham said squaring up unpaid superannuation would have two major effects.
"First and foremost it's about getting the employees entitlements paid and then also having businesses compete on a level playing field," he said.

in the past days  Woolworths have admitted not paying their staff correctly  something to the tune of $300 million... its eye popping...

ok so during that time wouldnt their super have been receiving less as well????..

they claim back pay will be paid but what about their under funded superfunds??

crocodile wrote on Oct 31^st, 2019 at 10:33am:


However Woolworth's have admitted underpaying staff so your point is bullshit....Why would anyone try (unsuccessfully) to excuse this behavior???

Any employer who has stolen money
from an employee should be hanged.

Hang em and hang em high
with a sign around their neck saying
THIEF

Bobby. wrote on Oct 31^st, 2019 at 11:19am:


That would be fine if the same rule applied to employees that steal from employers.

crocodile wrote on Oct 31^st, 2019 at 11:21am:


Your rant had nothing to do with Woolies underpayment so why raise it dickhead....Making excuses where none exist hey ass wipe!!!

philperth2010 wrote on Oct 31^st, 2019 at 12:14pm:

Go to Spec Savers. Cods raised the point, not me. I answered it truthfully and according to the law. You are a true wanker of worldly proportions. Now fukk off and play with your toy train set.

The award regulations are so complicated it is easy to misinterpret them. As Woollies did.