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Superannuation

There are two types of superannuation available at Southern Cross University:

  • 'Non-contributory superannuation', where the University makes contributions to UniSuper at the current Superannuation Guarantee Charge (SGC) rate on the employee's behalf; and
  • 'Contributory superannuation' where the University and the employee contribute to an approved scheme. The employee's contribution may be reduced as per the relevant fund rules.

1. Non-contributory superannuation

Employees who are eligible for non-contributory superannuation have contributions made by the University to UniSuper on the employee's behalf. The contributions are made at the Superannuation Guarantee Charge (SGC) rate as provided by the Commonwealth's Superannuation Guarantee (Administration) Act 1992.

From 1 July 2008, the Superannuation Guarantee contribution is based on 'ordinary time earnings' rather than basic salary. In addition to basic salary, 'ordinary time earnings' may include payments such as:

  • Allowances (other than those for reimbursement of expenses such as travel);
  • Over award payments; and
  • Shift loadings.

Further details on Ordinary Times Earnings can be obtained from the Australian Taxation Office website.

2. Contributory superannuation

Eligible employees are required to become members of an approved fund to which the University and the employee contribute a percentage of the employee's salary. The employee's contribution may be reduced under the relevant fund rules.

An 'eligible employee' is:

  • Appointed on a continuing basis, or for a fixed-term of eighteen months or more; and
  • Employed full-time, or on a part-time basis of 50% or more; and
  • Occupies a position which is funded from operating funds provided to the University or from grants which provide the University with the full cost of employer superannuation contributions.

UniSuper

Eligible new employees are required to become contributory members of UniSuper, unless they are already members of either the State Superannuation Scheme (SSS) or the State Authorities Superannuation Scheme (SASS) and elect to continue their membership on appointment.

The University will make employer contributions of 17% where fixed term positions are funded from operating funds provided to the University or from DET grants that provide the full cost of the employer superannuation contribution to the University for employees with:

  • A fixed term contract of employment equal to or greater than 50% fractional; and
  • Employment on a fixed-term basis of 18 months or more.

Employees appointed for an aggregate period of 18 months or more continuous fixed-term service, or appointed on a continuing part-time basis of less than 50%, will be offered contributory superannuation provided their positions are funded from operating funds provided to the University or from DET grants that provide to the University the full cost of the employer superannuation contribution.

Where the employee accepts the offer of contributory superannuation, the University will make employer contributions of 17% of UniSuper. Contributions will commence at the beginning of the appointment that coincides with these eligibility requirements being satisfied.

Eligible employees contribute at the standard level of 7% of their salary, but may elect to reduce their superannuation contributions as part of UniSuper's contribution flexibility program.

Employees are encouraged to seek independent financial advice when considering their options. Further information on UniSuper's contribution flexibility program is available from UniSuper's Website.

NSW State Superannuation Schemes (SSS and SASS)

Eligible employees who are already members of these schemes at the time of their appointment to the University may choose to continue their existing membership.

These state superannuation schemes are closed to new members.

3. Superannuation contacts

Each superannuation scheme provides an advisory service to assist members, and the contacts are: