Union members continue to WIN - CBA to pay interest on unpaid Super
Tuesday, 14 March 2017
Today (14 March 2017) I gave evidence into the Senate Inquiry into the Underpayment of Superannuation. The FSU provided a submission to the inquiry in late February and you can view a copy of the submission HERE!
I spoke of the importance of superannuation to our members and the injustice of the systematic underpayment over the last 8 years.
I also spoke today about the gender pay gap and how Individual Arrangements can enforce this gap and is one of the factors which leads to gender inequity in retirement savings.
The FSU acknowledged the fact that CBA has committed to back paying the underpayment of superannuation to current and former part time employees who have worked additional hours.
CBA also appeared at the Inquiry today thanking the FSU for bringing this issue to the banks attention and committed to repaying all underpayments with interest.
The FSU welcomes CBA’s commitment to pay interest along with their repayment of unpaid super and leave entitlements.
The FSU is committed to working with CBA to ensure the process moving forward is done as quickly as possible and the amounts owing to members is repaid correctly.
CBA today gave evidence to the inquiry that they will work with the FSU and if members wish to appoint the FSU to represent them in this matter then CBA will work with FSU to resolve this matter.
Authorised By: Julia Angrisano, National Secretary