|Employer Information > Horse Training Industry Award (1998) - PRE 2010 > Part 5 - Wages & Related Matters > Occupational Superannuation|
17.1 The subject of superannuation is dealt with extensively by legislation including the Superannuation Guarantee (Administration) Act 1992, the Superannuation Guarantee Charge Act 1992, the Superannuation Industry (Supervision) Act 1993, and the Superannuation (Resolution of Complaints) Act 1993. This legislation, as varied from time to time, governs the superannuation rights and obligations of the parties.
17.2.1 Superannuation contributions made in accordance with the Superannuation Guarantee (Administration) Act 1992 shall be placed in the Nationwide Superannuation Fund ("NSF").
17.2.2 The employer must give each employee a "key features" statement about NSF, together with relevant applications forms.
17.3 Quantum of Contributions
17.3.1(a) 7% on behalf of each eligible employee:
17.3.2 Contributions on behalf of each eligible employee shall apply from the date of the employee's commencement of employment with the employer.
17.3.3 An eligible employee shall mean any employee who has earned a minimum of $450.00 or more in any calendar month. Such employees shall only deemed to be an eligible employee in those calendar months as defined in the Superannuation Guarantee (Administration) Act 1992 where the minimum earning requirement is met. Provided that employees who are aged 70 or over are exempt from the superannuation contributions.
17.3.4 An employer shall make a 3% superannuation contribution to NSF on behalf of all employees who do not meet the eligibility criteria contained in the Superannuation Guarantee (Administration) Act 1992. In this case the minimum contributions shall not be less than $2.00 per week.
17.4 Notional earnings base
The employee's "notional earnings base" for the purpose of the Superannuation Guarantee (Administration) Act 1992 shall be the employee's "ordinary time earnings" which shall include classification rates, overaward payments, casual loadings, penalty rates (excluding overtime rates) shift loadings, performance based bonuses and allowances.
17.5 Additional Employee Contributions
17.5.1 An employee may make contributions to NSF in addition to those made by the respondent employer under 17.3.1
17.5.2 An employee who wishes to make additional contributions must authorise the respondent employer in writing to pay into the fund, from the employee's wages, a specified amount in accordance with the fund trust deed and rules.
17.5.3 An employer who receives written authorisation from the employee, must commence making payments into the fund on behalf of the employee, in accordance with 17.6, within fourteen days of receipt of the authorisation.
17.5.4 An employee may vary his or her additional contributions by a written authorisation and the employer must alter the additional contributions, in accordance with 17.6, within fourteen days of receipt of the authorisation.
17.6 Frequency of payment
17.6.1 Employer and employee contributions shall be paid to the fund monthly.
17.6.2 Contributions shall continue to be paid during any period when an employee is entitled to receive Accident Pay in accordance with clause 16.8 of this Award.
17.7 Statement of contributions
The employer will provide, at the employee's request, a statement of the contribution paid on the employees behalf to the fund for the previous financial year. This statement will be provided as early as possible after the end of the financial year but need not be provided if the employee's pay slips contain the relevant information.