Parental leave partly paid at Westpac
Westpac group will pay superannuation contributions during up to 12 months of employees' parental leave, the bank announced yesterday, while its first enterprise agreement in eight years is up for approval before Fair Work Australia today. The company had already agreed in its proposed new enterprise deal with the FSU to extend super payments to cover its paid parental leave of 13 weeks, but the new arrangement provides to extend the super contributions for a further 39 weeks. Westpac expects more than 1000 permanent employees across its brands - Westpac, St George, BT and Rams - to benefit from the new entitlement, which takes effect from tomorrow. The bank says about 1750 permanent employees took unpaid parental leave last year. Westpac will pay the contribution as a lump sum into one of its BT Super for Life super accounts, when the employee returns from parental leave. Read more at Workplace Express