NAB follows Westpac on parental leave super
National Australia Bank's 25,000 Australian employees will receive superannuation payments during up to 40 weeks of unpaid parental leave from October 1. The bank's announcement follows a similar move from Westpac Group that took effect last week.Under the terms of the NAB deal, it will pay 10 per cent super contributions (or one percentage point higher than Westpac's 9 per cent) on the employee's total remuneration (Westpac uses base pay), as a lump sum on the employee returning to work after parental leave. NAB, like Westpac, already pays super contributions during 12 weeks paid parental leave.Westpac will pay the amount into accounts held by its BT subsidiary, but NAB will pay the amount into the employee's nominated super fund.Workplace Express