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‘Not good enough’: NAB investigating staff underpayments

The National Australia Bank has launched a wider independent investigation into staff payments after discovering last year that 1500 employees had been short-changed a total of $1.3 million.

NAB executive Susan Ferrier emailed staff on Thursday saying the bank had employed law firm King & Wood Mallesons and audit firm PwC to conduct a review into problems with the bank’s payroll system.

NAB executive Susan Ferrier has emailed staff to apologise for problems with its payments system.

NAB executive Susan Ferrier has emailed staff to apologise for problems with its payments system. Credit:AFR

The lender identified payment problems with a small group of staff last year leading to a $1.3 million payout including extra superannuation and interest as compensation. It’s now conducting a wider review into payments of current and former Australian staff.

“We take paying our colleagues their full entitlements extremely seriously and it is unacceptable and simply not good enough that we have not always delivered on that promise. I regret these errors and apologise,” Ms Ferrier said in the email to staff.

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