A payroll review has found the bank miscalculated staff benefits and as a result has paid AU$55 million to the 3,200 current and former employees impacted.
The National Australia Bank (NAB) has announced having to repay current and former staff for wages it miscalculated. The bank in December 2019 announced a payroll review. At the time, it said the review was part of its « obligation and commitment to paying our colleagues correctly ». The review examined NAB’s internal pay processes and its compliance with pay-related obligations under Australian employment laws. « In the last 17 months we have investigated 148 matters, of which we have closed 61, » NAB said in a statement on Wednesday. « 22 of these issues has resulted in an underpayment. » To date, NAB has paid AU$55 million to former and current colleagues. NAB said it has identified 3,200 current and former colleagues impacted.
