The Information Commissioner has ordered Australia's largest super fund, Australian Super, to pay a member $4500 in compensation and apologise for sharing her personal information with her former legal representatives.
The Federal Government's retirement incomes review, released today, has warned that increases in compulsory super contributions will curb wage growth and reduce living standards during employees' working lives.
The Ai Group has expressed "significant" concern about ASIC advice that companies in the wake of the Rossato ruling must in their financial reporting provide for any leave, redundancy and public holiday pay prospectively owed to past and present regular casuals.
In a significant ruling on the standing of independent contractors, a full Federal Court has upheld an appeal by two truck drivers pursuing unpaid leave and superannuation entitlements after working exclusively for a multinational company for almost 40 years.
Some 2.4 million workers gained access to $18.1 billion in super under the coronavirus early release scheme until June 28, while a further 100,000 were waiting for the funds to hit their bank accounts, according to data released by the prudential regulator today.
The Morrison Government has this morning introduced legislation to increase flexibility in taking the federally-funded paid parental leave entitlement of 18 weeks and has also introduced a Bill to consolidate inactive and low-balance super funds.
The lobby group representing for-profit superannuation funds and fund managers is pushing the Morrison Government to extend the scope of its choice-of-fund legislation to existing or expired workplace agreements.