Superannuation
Superannuation contributions became compulsory for employers in 1986 with the introduction of an award rate of 3%. Superannuation Guarantee contributions were introduced on 1 July 1992 and are currently set at 9%.
Superannuation Funds
Super SA (http://www.supersa.sa.gov.au)
- Pension Scheme - this has been closed to new members since 31 May 1986
- Lump Sum Scheme - this has been closed to new members since 3 May 1994
UniSuper (http://www.unisuper.com.au)
UniSuper is the industry superannuation fund for Australia's higher education and research sector. Membership of UniSuper is a condition of employment as determined by the relevant Collective Agreement and the staff member's Employment Agreement with the University.
UniSuper Plans:
- Defined Benefit Division
- Accumulation 1
- Accumulation 2
Joining criteria and contribution rates
The UniSuper superannuation fund that employees are required to join will depend on the following criteria:
Defined Benefit Division / Accumulation 2 (DBD / Accum2)
- Commenced employment after 1 January 1992
- Non-casual employment
- Recurrent funded position
- Service fraction 0.5 or greater
- Continuing position or continuous non-casual contracts of more than 18 months
- Classification HEO3 or above
NB: Optional membership may be available to different categories of employees and employment contracts that do not meet the above criteria. Optional membership is also available to staff employed under the Security and Grounds Staff Enterprise Agreement 2005. Please contact the University Superannuation Officer for further details.
Contributions rates
-
Member - 7% of post tax salary or 8.25% of pre-tax salary (salary sacrifice)
-
University - 14% of salary to the DBD / Accum2
-
University - 3% of salary to Accum1
Variation to contributions
Members have the option under Contribution Flexibility to nominate the percentage they wish to pay. If you would like further information on contribution flexibility please refer to the UniSuper website.
- Members on a salary classification HEO1-4 have the option to apply for half contribution membership at 3.5% of salary in lieu of 7% of salary. For further information please contact the University Superannuation Officer.
Accumulation 1 (Accum1)
- Continuing or fixed term employment contracts that do not meet the criteria for membership to the DBD / Accum2
- Casual employees that satisfy the Superannuation Guarantee Charge (SGC) criteria (www.ato.gov.au) or the UniSuper Award
Contribution rates
- University - 9% for staff that do not satisfy the membership criteria for the DBD / Accum2, or
- University - 3% for staff who qualify for UniSuper Award payments
- University - 3% for members of the DBD / Accum 2 who have not elected contribution flexibility
Casual employees
The University will generally contribute 9% of your salary to superannuation under the Superannuation Guarantee Legislation provided you are paid a minimum of $450 a month.
If you earn less than this, the University will contribute 3% (UniSuper Award) if:
- you work 100 hours in a six-month period (professional/general staff), or
- you earn $2,416 for a six-month period in 2009* (academic
staff)
*This figure is indexed annually as at 1 January
While contributions paid for casual employees do not always appear on their payslips, employees can check their superannuation details by registering on the UniSuper website.
Can I make voluntary contributions to superannuation?
Members of UniSuper or Super SA have the option to make additional voluntary contributions to their superannuation at any time. Further information is available by contacting the University Superannuation Officer or from the following links.
Salary sacrifice
The University offers non-casual employees the opportunity to salary sacrifice superannuation contributions into some superannuation funds. Salary sacrifice is also referred to as pre-tax contributions. NB: Salary sacrifice is not available for casual employees.
For further information please refer to the following links:
General information:
Australian Taxation Office (ATO)
UniSuper (Salary sacrifice
calculator)
Super SA (Salary sacrifice
calculator)
University Salary Sacrifice Guidelines, Agreements and Forms:
www.unisa.edu.au/hrm/employment/remuneration/sacrifice/default.asp
(Guidelines)
www.unisa.edu.au/hrm/employment/remuneration/sacrifice/super.asp
(Agreements and Forms)
Flexible work arrangements / leave without pay / reduction in service fraction
Participating in a flexible work arrangement, periods of leave without pay or a reduction to your service fraction could impact on your superannuation benefit including your insurance cover.
To explore your options, please contact the University Superannuation Officer or your superannuation fund.
Government Co-Contribution Scheme
The Superannuation Co-Contribution Scheme is a Government incentive to assist eligible individuals to save for their future. For further information, please refer to the ATO web and your relevant superannuation fund.
Co-Contribution Brochure - who is eligible and what do I need to do?
Co-Contribution Calculator - how much do I need to contribute and how
much will I get?
UniSuper
Super SA
Absence from work due to injury or illness
If you have been or will be absent from work due to an injury or illness for more than 3 months over a 12 month period, or if you resign from employment due to injury or illness, you may be eligible to submit a claim for temporary or permanent disablement cover through your superannuation fund.
To find out if you have insurance cover, please check your superannuation Benefit Statement. For more information, please refer to your superannuation fund or contact the University Superannuation Officer.
What do I need to do when I resign or retire?
On termination of employment the Payroll office will be notified of the effective end date. Once your final pay has been processed, the Superannuation Officer will then notify the appropriate fund.
UniSuper will send the appropriate paperwork to your home address for you to complete and return to UniSuper with your payment instructions.
Super SA members are responsible for requesting a form to be sent to them directly from Super SA or by downloading the form from Super SA.
Transition to retirement
On 1 July 2005 the Government passed the Transition to Retirement legislation.
The transition to retirement measure allows individuals who have reached their preservation age, to access their superannuation benefits without haveing to retire or leave their job. The availability of this arrangement is dependent on each superannuation fund.
Further information can be obtained from your superannuation fund website or the ATO.
What if I transfer to another University?
If you resign and commence employment with another Australian University, your UniSuper benefit can be transferred to your new employer without you having to complete any forms. Please contact your University Superannuation Officer to arrange this for you.
Can I rollover my superannuation from another fund?
If you have superannuation benefits in other superannuation funds, you may be able to transfer these benefits to your current superannuation fund.
Should you require a Rollover form or further information please refer to your superannuation fund website.
Portability
Employees in an accumulation fund (such as the Accumulation Division of UniSuper) can elect to transfer a portion of their superannuation from one fund to another. So while choice of fund is not currently offered to employees, members can elect to roll out superannuation contributions from UniSuper into another fund once every twelve months.
Members who wish to participate in this arrangement need to be aware that UniSuper require at least $5,000 to remain in the member's account after portability. Further information is available at the following link: UniSuper
Can I access my superannuation details over the internet?
UniSuper
By registering on the UniSuper website, you can access your current superannuation account balances, view contribution details and update your address and beneficiary details on a secure site. To register, you will need your UniSuper membership number and your Payroll Employee ID number (referred to as a "registration number").
Log on to UniSuper click on "Register for a Login" and follow the prompts to enable this.
Super SA
If you have recently moved house, changed postal, email or phone details you can easily update your details online, so that your Annual Statement and other important superannuation information will be delivered to you.
The secure member area of this website lets you access all your personal information to keep track of your account and contact details.
Log on to Super SA and use the secure access panel to sign in - you will need your Super ID and password.
If you have not signed in to the secure member area before, you will need to click on 'Member register'.
Superannuation statements
UniSuper
Statements are distributed to your home address for the 6 month period (30 June and 31 December) in March/April and September/October each year.
Super SA
Each year you will receive an Annual Statement showing your entitlements in the fund at 30 June of that year. You can sign in to the secure member area of this website to view your latest Annual Statement online any time.
Superannuation Seminars
Superannuation seminars are held regularly throughout the year covering a variety of superannuation topics. To find out more about seminar topics or to reserve your place at a seminar, please refer to your superannuation website.
UniSuper Consultative Committee
The functions of the UniSuper Consultative Committee are to:
a. advise and make recommendations to the Trustee:
- on matters of difficulty in the implementation or application of the Trust Deed*;
- on matters concerning the provisions of the Trust Deed*;
- on any other matters on which the Trustee requires advice; and
b. consider, and if thought fit, to give its consent in any matter requiring its consent in terms of the Trust Deed*.
*The Trust Deed is a legal document that outlines the Fund's rules. This can be downloaded from the UniSuper website.
The current University of South Australia members of the Committee are:
University appointees
Greg Charnley, Manager: Remuneration - Human Resources Unit
Paul Beard, Executive Director & Vice President: Finance & Resources
Elected Academic staff representative
Professor David Corkindale - Professor of Marketing Management
Elected Professional/General staff representative
Mr John Sibly - Student Services Advisor
Contacts
University Superannuation Officer
Kerryn Hudson
Level 3, 101 Currie Street
City West
Internal - 21637
External - (08) 8302 1637
Fax - (08) 8302 1812
Email:
Superannuation@unisa.edu.au
UniSuper
Level 37, 385 Bourke Street
Melbourne VIC 3000
1800 331 685
www.unisuper.com.au
Super SA
GPO 48
Adelaide SA 5001
1300 369 315
www.supersa.sa.gov.au
Useful links:
Australian Taxation Office (ATO)
Association of Super Funds of
Australia (ASFA)