Former Ansett workers get $16m super paybackBY LINDA HAUSKEN | MONDAY, 2 JUL 2012 12:35PMA decade after the collapse of Ansett, Australia's second largest airline at the time, former workers have finally been paid $16 million in super entitlements. |
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Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
I assume that the employee superannuation entitlements, frozen 10 years ago, received a nominal compound interest rate of at least 5% pa.
If an employee had a balance of say $100,000 ten years ago, then at 5% interest, the balance would be close to $169,000 today.