POWERED BY MOMENTUM MEDIA
AIST defends keeping super on payslips
Superannuation should continue to be compulsorily included on employee pay slips, according to the Australian Institute of Superannuation Trustees (AIST).
The AIST has responded to a Treasury paper proposing the removal of the requirement to argue that superannuation represents a significant and integral component of an employee's total remuneration and therefore justification inclusion in pay slips.
Commenting on the issue, AIST chief executive, Tom Garcia said super was workers' money and including it on payslips should be no different than including details of take-home pay.
Further, he said he believed inclusion of such information was important part of the transparency of compulsory super system.
Garcia said that including superannuation contributions on payslips empowered workers to ask questions of their employers and hold them accountable to legal requirements.
He cited recent research showing there were still a significant number of employers who were not meeting their superannuation guarantee and claimed that a payslip was an important tool to keep employers honest and remind employees of their entitlements.
Recommended for you
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment