Manual of Policies and Procedures

B/7.11 Superannuation

Contact Officer

Superannuation Officer

Approval Date

03/07/2017

Approval Authority

Vice-Chancellor and President

Date of Next Review

01/07/2020

7.11.1 Purpose
7.11.2 Application
7.11.3 Roles and responsibilities
7.11.4 Maximum coverage
7.11.5 Minimum coverage
7.11.6 Closed QSuper Superannuation Funds
7.11.7 Choice of fund
7.11.8 Definitions
Related Documents
Modification History

7.11.1 Purpose

QUT provides superannuation coverage for staff members through membership of the UniSuper fund, except as set out in the relevant industrial agreements, legislation or employment contracts.

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7.11.2 Application

This policy applies to all eligible staff, as set out in legislation, industrial agreements, employment contracts and superannuation scheme conditions.

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7.11.3 Roles and responsibilities

Position
Responsibility

Superannuation Officer

  • administers QUT's superannuation obligations

Manager, Payroll Services

  • deducts employer and employee contributions as part of fortnightly payroll
  • remits to the superannuation funds all moneys collected on behalf of eligible staff
Manager, Financial and Capital Management
  • ensures the collections and payments are reconciled through the Finance System General Ledger-Superannuation Clearing account
Executive Director, Human Resources
  • ensures that QUT complies with its obligations under superannuation legislation and certified industrial instruments

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7.11.4 Maximum coverage

All staff members, employed since 5 January 2006, who have an appointment of 12 months or more are eligible for maximum superannuation coverage.

The maximum superannuation coverage for staff members in UniSuper requires that QUT contribute the equivalent of 17% of gross salary. Staff members can choose a contribution rate of between 0% and 7% of gross salary subject to the UniSuper Trust Deed, with 7% of gross salary being the default contribution rate.

A staff member who is not normally eligible may apply for maximum coverage, provided that the staff member's position is funded from external sources and provides for maximum coverage.

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7.11.5 Minimum coverage

Staff members who do not qualify for maximum superannuation coverage are provided minimum superannuation coverage.

Minimum superannuation coverage requires that QUT pays the equivalent of the contribution as required by the applicable legislation, currently the Superannuation Guarantee Administration Act 1992 (Cth). The applicable level of the Superannuation Guarantee (SG) contribution is calculated on ordinary times earnings and a charge percentage set out in the legislation.

The University has chosen to extend the Superannuation Guarantee contributions to staff members who are under 18 years of age and/or who earn a salary or wage of less than $450 in a calendar month. The University does not apply the Superannuation Guarantee maximum contributions base.

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7.11.6 Closed QSuper Superannuation Funds

The following superannuation funds are not available for membership for all new or existing staff appointed after 3 September 1990 (academic staff) and 1 July 1991 (professional staff):

  • QSuper Defined Benefit Plan
  • QSuper Accumulation Plan
  • QSuper State Plan

The University maintains contributions to these funds for staff members appointed prior to these dates. Depending on the plan, contributions of up to 14.65% are arranged for members.

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7.11.7 Choice of fund

Under QUT's enterprise agreements for academic and professional staff, UniSuper is the nominated superannuation fund. As UniSuper is specified in a workplace agreement, QUT is not required to offer a choice of fund to staff covered by these agreements.

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7.11.8 Definitions

UniSuper is the industry superannuation fund for the Australian higher education and research sector.

QSuper is the Queensland State Government superannuation scheme.

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Related Documents

Superannuation Guarantee Administration Act 1992

QUT Superannuation information (QUT staff access only)

UniSuper website

QSuper website

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Modification History

Date

Sections

Source

Details

03.07.17 All Vice-Chancellor Periodic review - policy modernised and approval authority changed to Vice-Chancellor
30.04.15 All Human Resources Director Policy updated in accordance with current legislation
13.05.14 All Registrar Revised policy to reflect current industrial instrument

16.12.10

All

Registrar

Periodic review - Policy revised to reflect current industrial instrument

24.08.06

B/7.11.2

Registrar

Policy updated to reflect changes advised by UniSuper relating to member contributions

24.05.06

All

Registrar

Policy updated in accordance with current legislation

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