2 scenarios are probable:

1) Employees will still contribute 10% of their salaries to PF. However this will not be remitted to the Pension Fund because KQ is "cash hungry". KQ gets free cash from employees and what it matches, total 20%. Is this legal? My understanding is that since these contributions attract tax advantages on the employees, they must be with a registered pension fund regulated by RBA.

2)A second scenario that I find more probable is that Employees stop contributing to PF altogether. They get paid the PF in cash thus it becomes a plus on their payslips (10 % before taxes). This creates a "feel good" situation because they are having more to enjoy with their families. (In detriment to their retirement)

To KQ it saves 10% of what it could have contributed in matching employee's contribution.
😲

Isn't KQ over-consulting? forensic consultants, revenue and cost consultants, this will turn out to be another scandal.

Ten years? Yes there about but over. You see. Filling a bottom less hole of losses ie over one year consulting and reconsulting, over two years restructuring and bitterly over 33/3=11 yrs of solid profitability beating all the mayriads of agonising precarious state of airline industry. That shall be stellar performance if it is to be. Imagine. Do you know in ten years I will be going for the president of Africa after African states unites. Just imagine if you could dream like me, what you would do with ten solid years. Just for imaginations only. But just..... Imagine how much will have changed. Just.

@kayhara theft on several levels occured at KQ and seabury or mckinsey arent specialised in fraud discovery, hence need for deloitte as KQ in itself has no capacity to investigate.. @sparkly im not wealthy, just blessed. :) please note that something grand is in the offing at the airline. GoK hint. Thank me later

I welcome a bailout regardless..

How does one go about diluting negative equity? Kq is a farce.

Lol.. U remind me of whispero.. Good with the words

did MCkinsey charge coop 1b for consulation fees during the process.now I expect KQ to be bigger than that now that kq is in deep mess .this will ultimately eat into their PBT and PAT making it worse

Sarcasm myxxxx. This is true conspiracy to systematically stiffle the owners of this deadhorse and wash wash them clean. Everyother keen dude knows this hoarse is stifled by high wage,creditors(may be restructiuring pay periods with guranteed supplies at a higher cost etc etc,,will the deductions as they are beneficts to employee not fall due one day? My friend thinking is not easy, what of see things as they are ment to be, harder)and all that is gotten at a premium. Now they have seen the sense that they have milked hard enough and the cow is on its death bed. So what do they decide to do, keep the cow well in the ICU to skin it canibalise it while it still kicks. Collusion between the gagged manager and the gagger the employee. This cow must go since nobody is ready to take the bold step and put a torch on the head of the real monster inside here. Crocodile tears my fellow wazuans tu.

@Maka
I thought theirs is a defined contribution scheme. Are you sure it is a provident fund?