Salary On Costs
With the exception of superannuation, the salary on-cost rates shown below will be charged by the University. The rate shown for superannuation is a guide only and may be used in estimating superannuation on-costs for potential new employees. Prior to the introduction of the Concept HR/Payroll system, the rate for superannuation was based on the average cost of the different types of superannuation funds. With the introduction of the new system, the actual superannuation rate for each employee is used which varies according to his/her fund membership.
The minimum superannuation contribution payable by the University for each employee is 9% of salary providing the monthly salary exceeds $450. Hence as a general rule, a rate of 9% is applicable for the superannuation on-costs of casual employees.
For permanent employees, the amount payable will depend on his/her term of employment and fund membership. All employees employed for a period of two or more years are required to contribute to superannuation. For employees who do not meet this criteria, the minimum rate of 9% referred to above will apply.
The rate varies for employees contributing to a superannuation fund depending on their rate of contribution and the type of fund. There are five (5) different options currently in operation:
Unisuper Ltd
State Superannuation Scheme (SSS)
State Authorities Superannuation Scheme (SASS)
Professorial Superannuation Scheme (Prof Super)
Choice of Fund (employee chooses their own fund subject to meeting requirements)
SSS, SASS and Prof Super have been closed to new members. Except where a new employee is already a member of one of these schemes in another organisation and transfers to the University, all new employees who are required to contribute to superannuation will join Unisuper or Choice of Fund.
Contributory fund rate | Basic benefit rate | Total rate | |
Unisuper | 14% | 3% | 17% |
SSS | 14% | 3% | 17% |
SASS (note 1) | 14% | 3% | 17% |
| Choice of Fund | 17% |
Notes:
1. Employee contributions vary between 1% and 9% of salary
Permanent staff & Limited Term over 2yrs or over 50% Casual staff Limited Term contract less than 2 yrs or less than 50% Payroll tax (See note) 5.45 5.45 5.45 Payroll tax on Superannuation 1.17 0.41 1.17 Workers' compensation 1.8 1.8 1.8 Maternity and extended sick leave provision 0.90 0.90 0.90 Long-service leave 2.15 0.00 2.15 Holiday pay loading 1.34 0.00 1.34 Basic benefit and SGC superannuation* 3.00 9.5 9.5 Contributory superannuation * 14.00 0.00 0.00 TOTAL* 29.81 18.06 22.31 * Superannuation rates are provided for guidance in costing only - as previously advised. The amount payable depends on the employee's fund membership. Last Updated 17 January 2011
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