An independent review of Cbus has revealed that construction bosses are 'gaming' the system by not paying superannuation owed to employees under their obligations.
Issues were raised at the Trade Union Royal Commission (TURC) after a recent breach of privacy by Cbus staff. One specific finding was that the personal details revealed by the Cbus employees was an isolated incident. Nobody has suffered any financial loss, but the recommendations include 'a further injection of independent directors' to the Cbus board, which has an overabundance of directors belonging to a sponsor organisation.
Key findings include: *The construction industry has a few players 'gaming the system', not paying superannuation and the ATO not taking action *Sponsoring organisations (like unions) have a role in chasing arrears, but Cbus needs to take more affirmative action on behalf of its members. *More expertise and diversity is required amongst the Workplace Distribution Unit, and more independent directors on the board.