Cbus welcomes Xenophon Team action on unpaid super
11 September 2017
Action by the Nick Xenophon Team to change the law so that superannuation must be paid with wages will help address the widespread and serious problem of unpaid super which affects hundreds of thousands of workers in the construction and building industry.
Trish Donohue, Acting Chief Executive Officer of Cbus welcomed the Private Members’ Bill, introduced by Rebekha Sharkie from the Nick Xenophon Team today.
“We are encouraged that more and more members of the Australian Parliament are recognising that unpaid super is a massive problem that needs a strong response,” Ms Donohue said.
“Unpaid super is unpaid wages and Australian workers are missing out on billions of dollars.
"We know that paying super with wages will go a long way in stopping non-payment of super – it’s common sense and reflects community expectations.
“By the ATO Commissioner’s own recent admission of the scale of the problem – $17 billion since 2009 - the antiquated quarterly payment system isn’t working for workers or businesses.
“The millions of dollars of unpaid super contributions not paid into Cbus makes it harder for our members in retirement and increases reliance on the age pension.
"Addressing unpaid super is also important in redressing the unfair playing field for the vast majority of employers who adhere to the law and pay their employees super.
“Cbus also welcomes moves to abolish the antiquated monthly $450 threshold for super. We don’t believe there should be hurdles to workers building retirement savings.”
Ms Donohue also urged workers to get into the habit of checking their super contributions like they check their wages have been paid.
“At Cbus, our mobile apps make it easy for members and employers to check their super account balances and payments on the go,” Ms Donohue said.
A joint Cbus and Industry Super Australia report released in December 2016 exposed the multi-billion worker rip off and was a catalyst for a Senate Inquiry that has brought greater focus to this important issue.
Media contact: Carla De Campo, 0410 579 575