TELSTRA CORRECTS SUPER ERRORS

Telstra has advised as follows: Telstra reviewed the accuracy of payments made to employees who had previously exited the Defined Benefit (DB) fund or the Commonwealth Superannuation Scheme (CSS) and instead had superannuation contributions paid into an accumulation fund.
In summary:
Ex-CSS employees: Ex-CSS employees are entitled to 12% superannuation. This consists of a Superannuation Guarantee component (currently paid at a rate of 10.5%) and a top-up percentage (currently paid at the rate of 1.5%) based on Fixed Remuneration (FR). It was identified that their superannuation top-up amount has been incorrectly based on base salary rather than FR. Therefore, the top-up superannuation percentage will increase from the 22 December 2022 pay period (payable on 4 January 2023). We will also retrospectively fix the incorrect calculation of their top-up superannuation for the period from 1 July 2015 through to 21 December 2022 by making a one-off payment of superannuation to their superannuation account.
Ex-DB employees: Telstra decided to increase the FR amount of employees who exited DB by 0.5% from 1 July 2015. This was to ensure that take home pay was not negatively impacted by a future increase to superannuation contributions. As a result of this review, it was identified that a small number of employees did not receive this additional 0.5% uplift to their FR. Therefore, their FR will increase from 22 December 2022, (payable on 4 January 2023). We will also retrospectively apply the 0.5% FR uplift for the period from 1 July 2015 through to 21 December 2022, including for any payments they received during this period that were based on their FR (e.g. Short-Term Incentives). We will also pay interest for the wages and superannuation amounts you are owed.
We are in the process of calculating these one-off payments, which will be paid in early 2023. We will communicate the additional amount that will be paid to each employee early next year. We will also finalise our approach for ex-Telstra employees.
Ensuring our people are paid appropriately is an absolute priority and we have apologised to those impacted.

POST SPF - WHAT IS THE REAL POSITION?

Post management at SPF advised that it now has 3 new staff at SPF. We asked some questions and got vague answers. We are following up:
Q1. Are these apprentices? - A1. PTO1
Q2. What pay level are they at? A2. PTO1
Q3. Is it a formal apprenticeship? A3. No
Q4. When will they complete their apprenticeship an/or training? A4. Depends on when they enrol. Will provide all TAs with an opportunity and support to enrol for Cert 3 in mechanical trade.
Q5. When will they commence as trained PTO4s? - A5. When cert 3 studies are successfully completed & there is a PTO4 vacancy.