Not so super at UniNewcastle

There are “potential anomalies” in University of Newcastle superannuation accounts. Vice Chancellor Caroline McMillen emailed staff yesterday with news the university has hired Deloitte to, “to undertake a comprehensive review to assess our obligations and identify any anomalies. ”Professor McMillen assured staff that UniNewcastle’s priority is “to meet our superannuation commitments” and if anybody’s super has been underpaid the shortfall will be made-up, with interest.

Good-o, but the VC’s statement does not reveal how much money is involved, how many staff have been under-paid or (over-paid?) and for how long. Also important, if people have had more deposited in their super savings than should have been, will the university want to recover it?

CMM hears the reason why there is no word on any of this is that no-one knows and the university is waiting for Deloitte to report before year end.

UniNewcastle is not unique among unis in stuffing up super. In May Swinburne U reported owing staff $3.66m in underpaid superannuation and interest on the amounts involved, (CMM May 8). And last year the University of Wollongong discovered it had got superannuation payments wrong for 30 per cent of staff over eight years (CMM April 6 2017). The problem involved both under and over payments with a make-good cost of $10m. UniWollongong copped it sweet, stating upfront it would not try to recover any overpayments.


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