Graeme Kelly, secretary of the Department of Construction, Forestry, Mining and the Energy Union, said That Mine Super offered benefits specifically designed for minors, such as disability insurance, but noted that “more and more AAs are naming a standard fund in our sector, but allow employees to unsubscribe.” Fair Work Commission publishes enterprise agreements on this website. I love working in the SMSF area. Self-administered super-funds are more than just a savings vehicle – they allow people to really control their financial situation, which is essential to achieving happiness. This included a clause stipulating that all Superannuation contributions would be made to the Retail Employees Superannuation Trust (REST), a fund supported by the Retail Union Shop, Distributive and Allied Employees Association (SDA). With these changes, all new employees must be equipped with the standard ATO super-choice. Our own Mark Beveridge has already written about it in March 2019 for Financial Standard Super: A salary increase, but only if you give us your Super to take care of you! If a job has a registered contract, the premium does not apply. However, 2016 Labor Figures estimated that 1.1 million workers were locked into a super fund by the clauses, regardless of the fund`s delivery. “You wouldn`t let your employer choose your bank and your employer shouldn`t be able to force you into a superfund,” said Superannuation Assistant Minister Jane Hume. He said Komatsu has paid his Super Pit worker bonuses since the first enterprise deal in 2010, including about $200,000 in bonuses last year. Liberal Senator Andrew Bragg has said he wants to “ban” clauses that lock workers into certain over-starvation funds.
Credit:Alex Ellinghausen Komatsu employs 17 people working in the Super Pit under the Enterprise Agreement, one of Australia`s largest gold mines and an employer of approximately 1,100 workers and contractors. “And it should be noted that it is surprising that the company itself did not independently verify the content of the proposed discussion paper prior to formal approval by the Fair Work Commission or the procedure that led to the approved agreement.” An ageing clause in the KFC`s new collective agreement has been criticized as ambiguous. Credit:AP A new law that allows more than 800,000 additional employees to hold a Superannuation election was passed this week by the government to remove restrictions that forced them into a superfounded by their employer. But there is a catch – the amendments are not retroactive and only apply to new agreements that will be concluded after January 1, 2021. “If the KFC`s intention is that this clause means that workers have a choice, it`s certainly not clear what they say,” Cullinan said. “If you want to offer a real choice of Superannuation, the clause should say so.” Flynn said he was pleased that Komatsu is unlikely to violate a business agreement in the future and pointed to his record and the fact that the money was paid. “From our point of view, we have had this agreement for many years, far from 2010,” he said. Workers have yet to vote on the proposed KFC agreement, but RAFFWU secretary Josh Cullinan said his aging clause had not sufficiently made workers understand that they had a legal right to choose their own fund.