VC's message to all staff - 12 December 2018
Colleagues,
As you will recall, in July this year, then Vice-Chancellor Professor Caroline McMillen announced that the University was undertaking a superannuation review. This followed findings by other universities and our own internal processes which identified some anomalies dating from 1 July 2009.
With the support of professional services firm Deloitte, we have now completed the review. The review identified that some staff had received incorrect superannuation contributions as a result of the incorrect interpretation and application of superannuation rules, as well as technical and system configuration errors. These errors were fully resolved on 18 October 2018.
The review analysed more than 8 million payroll transactions, representing payments to all staff from 1 July 2009 to 18 October 2018 and identified 6316 individuals who were affected to varying degrees.
On behalf of the University, I apologise for these errors and for any concern this matter causes you. We are ensuring all current and former staff have the correct superannuation contributions made on their behalf.
This week we are writing directly to those current and former staff who are affected by these errors to outline their individual details and provide information on how remediation will work. If you do not receive a letter via email this week, you have not been affected by these errors.
As well as paying amounts in arrears, we will pay interest to compensate affected staff. We will not seek to recover net overpaid contributions.
We are fortunate to be in a strong financial position and will be able to fund the superannuation remediation without the need to defer major projects or impact on staffing numbers.
Provision for the remediation costs – approximately $13.37 million – has been included in the University’s 2018 accounts.
While we have written to all affected former employees whose contact details we have, we are also doing a broad public call to encourage any former staff who believe they may be affected to register their current contact details at www.newcastle.edu.au/superannuation-review
If you would like more information about this activity, please visit www.newcastle.edu.au/superannuation-review. If you have any questions, please contact the superannuation remediation line from 9am-4pm on (02) 4921 5599 or email super.remediation@newcastle.edu.au
Best regards,
Alex
The University of Newcastle acknowledges the traditional custodians of the lands within our footprint areas: Awabakal, Darkinjung, Biripai, Worimi, Wonnarua, and Eora Nations. We also pay respect to the wisdom of our Elders past and present.