Superannuation

Superannuation

15. SUPERANNUATION

15.1 An existing Staff Member who is a current member of State Superannuation Fund (SSF) or State Authorities Superannuation Scheme (SASS) may retain that membership and the University will make employer superannuation contributions in accordance with the relevant scheme.

15.2 For all other Staff Members, the University will make the following employer superannuation contributions to UniSuper:

For continuing staff

17 percent of Ordinary Time Earnings

For Staff Members employed on a fixed term contract of two years or more

17 percent of Ordinary Time Earnings

For Staff Members employed on a fixed term contract of less than two years

The legislated superannuation contribution guarantee in place from time to time

Increased to a total of 13.25 percent of Ordinary Time Earnings effective from the first full pay period in March 2020;

Increased to a total of 17 percent of Ordinary Time Earnings effective from the first full pay period in March 2021;

For casual staff

The legislated superannuation contribution guarantee in place from time to time for a casual Staff Member whose wages are $450 or more per calendar month or who earns less than $450 per calendar month but more than $2,788 (or the amount notified by UniSuper from time to time) in either of the six-month periods between 1 January and 30 June or 1 July and 31 December each year.

15.3 In this clause, Ordinary Time Earnings means Base Salary, any Allowances paid for 12 months or more, and payments in lieu of notice upon termination of employment.

15.4 Provided that the University’s Trust Deed and Deed of Covenant with UniSuper so allow, the University may offer to (or agree to a request by) a Staff Member who is a member of UniSuper and who is eligible to receive the employer superannuation contribution at a rate of 17 percent of Ordinary Time Earnings to make reduced employee superannuation contributions to increase take-home salary or to access any other superannuation flexibility so allowed by the relevant Trust Deed and Deed of Covenant

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