Increase in employer superannuation rate

superannuation

In accordance with clause 3.3.2 of the Enterprise Agreement, on 3 July 2021 the employer superannuation contribution for staff engaged on a fixed term basis will increase to 17% (from 9.5%). 

This change does not apply to a small group of staff who have been approved to exercise superannuation flexibility in accordance with the Enterprise Agreement. Any employment contracts for fixed term employment that have been issued for employment commencing on or after 3 July 2021 automatically include 17% superannuation contributions as part of the remuneration package. 

For casual staff whose employer superannuation contributions are at the Superannuation Guarantee rate of 9.5%, there is a legislated change to the Superannuation Guarantee rate to 10% (which takes effect from 1 July 2021). This means that employer superannuation contributions will be at 10% for casual staff, effective 1 July 2021.

Tagged in superannuation