Australia’s biggest bank accused of ripping off thousands of workers
The Commonwealth Bank has been accused of ripping off thousands of its part time workers.
The Financial Sector Union (FSU) claim the big bank owes "millions of dollars in back payments plus interest" in missed superannuation entitlements to at least 7,000 workers, since 2009.
The union says the underpaid part-time staff, which are mostly women, work in the frontline of the banks, including branches, call centres and administration areas. These roles have set hours each week, but staff reportedly worked additional hours at peak hours or due to staff shortages.
"They have been paid superannuation to cover the hours they were originally contracted to work for, not the actual hours worked," national secretary Julila Angrisano said.
"CBA workers are telling us that they frequently work longer hours to cover staff shortages."
Angrisano added, "It's bad enough that Australia's most profitable bank pays some of the lowest wages in the banking sector – now we are finding that part-time staff aren't getting their full superannuation entitlement.”
The FSU has received legal advice stating the bank should be paying "9.5 per cent extra" into superannuation accounts for members to cover their full weekly wage. They plan to lodge a complaint with the Fair Work Commission unless the superannuation is paid back.
The Commonwealth Bank said the FSU's claims were being examined, but claimed the 7,000 figure is inflated.
"[We] have assured them that CBA understands the importance of superannuation to help secure and enhance the financial wellbeing of our employees," the bank said in a statement.
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