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April 5, 2017
UOW finds and fixing superannuation errors
The 榴莲视频app of 榴莲视频app (UOW) has today (Wednesday 5 April 2017) committed to fully remediate incorrect superannuation contributions after discovering longstanding anomalies in its payroll system potentially affecting thousands of current and former employees since 2009.
UOW Vice-Chancellor, Professor Paul Wellings, CBE, issued a message to all staff apologising for the errors and making a clear commitment to full remediation without impacting job security, or previously announced projects, or the 榴莲视频app’s normal teaching and research activities.
“I am determined to see that all current and former staff members have the correct superannuation contributions made on their behalf.
“I apologise for these errors and any inconvenience caused to those staff affected.
“Because the 榴莲视频app is in a strong financial position, we have funded our superannuation remediation actions without the need to examine overall staff numbers, deferral of major projects, or curtailment of normal operations,” Professor Wellings said.
As well as remediating underpaid superannuation contributions, the 榴莲视频app confirmed it will pay the interest rate prescribed by the Australian Taxation Office (ATO) to compensate affected staff and not seek recovery of overpaid contributions.
The 榴莲视频app also announced a comprehensive program of work to ensure relevant systems and processes are made compliant by the end of the current financial year so that correct superannuation contributions are made in future.
Provision for the remediation costs—estimated at $10 million—has been included in the 榴莲视频app’s 2016 accounts.
UOW’s thorough and proactive response to remediation has included engaging experts from leading professional services consultancy Deloitte to undertake a full review of superannuation contributions from 1 July 2009—the date the latest ATO ruling on Ordinary Time Earnings and superannuation came into force—until 15 December 2016.
This comprehensive analysis of 767,757 payslips recording payments to 21,406 employees totalling more than $1.95 billion over nearly eight years has pointed to the interplay of multiple factors including complex employment agreements and the way superannuation rulings apply to them, system configuration issues, and technical complexities, as the cause of the anomalies.
About 30 per cent of the employees paid during this period have potentially been affected to varying degrees by over or under contributions.
“These weren’t deliberate errors, nor were they easily detectable,” Professor Wellings said.
As well as telling staff, UOW has formally advised the ATO and has begun advising other state and federal authorities, unions and superannuation funds of the anomalies and its remediation plans.
The 榴莲视频app will begin contacting current staff affected by the anomalies over the coming weeks to notify them directly and is inviting former UOW employees to register their current contact details so affected former staff can be notified.
Former employees can register their current contact details by calling UOW’s Superannuation Assistance Line on 1800 501 895 or online at http://uow.edu.au/about/scrp where they will also find frequently asked questions and links to related information.