B/7.11 Superannuation
Policy Owner | Vice-President (People) and Chief People Officer |
Approval Date | 14/03/2023 |
Approval Authority | Vice-Chancellor and President |
Date of Next Review | 31/03/2028 |
7.11.1 Purpose
7.11.2 Application
7.11.3 Roles and responsibilities
7.11.4 Employer contributions
7.11.5 QSuper Superannuation Funds
7.11.6 Exceptions to policy
7.11.7 Definitions
Related Documents
Modification History
7.11.1 Purpose
The University 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.
7.11.2 Application
This policy applies to all eligible staff, as set out in legislation, industrial agreements, employment contracts and superannuation scheme conditions.
7.11.3 Roles and responsibilities
Position |
Responsibility |
|---|---|
| Senior Manager, Rewards, Workforce Insights, and Insurance |
|
|
Remuneration and Benefits Specialist (Superannuation) |
|
| Vice-President (People) and Chief People Officer |
|
7.11.4 Employer contributions
There are several employer superannuation contribution arrangements.
The University will provide 17% employer superannuation contributions to ongoing and fixed-term staff member, subject to the terms of the staff members’ superannuation fund and any associated trust deed.
If a staff member has chosen a superannuation fund which does not accept a 17% employer superannuation contribution, the University will pay the highest allowable contribution up to 17%.
All sessional and casual staff receive employer contributions as required by the applicable legislation, currently the Superannuation Guarantee Administration Act 1992 (Cth) (SGAA). The level of the Superannuation Guarantee (SG) contribution is calculated on ordinary times earnings and a 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.
The University only applies the Superannuation Guarantee Maximum Contributions Base (MCB) to Senior Staff and only if requested.
Employer Contributions to Fund of Choice
The University is required to comply with the SGAA for superannuation guarantee contributions.
The University will administer a choice of superannuation fund for Superannuation Guarantee Contributions and the 17% employer superannuation contribution as required pursuant to the SGAA.
The SGAA precludes a staff member that is a member of a defined benefit (e.g. the UniSuper Defined Benefit Plan and QSuper Defined Benefit Plan) from a choice of superannuation fund.
Existing UniSuper Defined Benefit Members as at their commencement date with QUT, and who are receiving 17% employer contributions, will need to remain members of the UniSuper Defined Benefit Plan, as per the UniSuper Trust Deed.
Superannuation stapling for new staff members
For the benefit of the below a stapled fund is a fund that is defined by the Australian Taxation Office (ATO).
For all staff members appointed on or after 1 Nov 2021, the University offers a choice of superannuation fund pursuant to the SGAA.
In the event the staff member chooses a superannuation fund, the University will be required, pursuant to the SGAA, to pay the employer contributions to the staff member’s fund of choice.
In the event the staff member does not choose a superannuation fund and:
- a stapled fund is identified by the ATO – the University will be required to pay the employer contributions to the staff member’s stapled fund pursuant to the SGAA; or
- no stapled fund is identified by the ATO – the University will pay the employer contributions to the University’s nominated default superannuation plan, UniSuper Accumulation 1 Plan.
17% Employer Contributions to UniSuper (Defined Benefit, Accumulation 2 or Accumulation 1)
In the event there is no choice made and no stapled fund identified by the ATO, the University will pay the 17% employer contribution to the UniSuper Accumulation 1 Plan as the University's default superannuation plan.
Once a member of UniSuper Accumulation 1, staff members receiving 17% employer contributions can then elect to join the UniSuper Defined Benefit Plan within a period specified by the UniSuper Trust Deed.
The UniSuper Trust Deed allows Defined Benefit members to elect to transfer to the UniSuper Accumulation 2 Plan within 24 months of commencement in the Defined Benefit Plan.
7.11.5 QSuper Superannuation Funds
The University pays 17% employer contributions to the following superannuation funds for some staff appointed before 3 September 1990 (academic staff) or 1 July 1991 (professional staff):
- QSuper Defined Benefit Plan
- QSuper Accumulation Plan
- QSuper State Plan
7.11.6 Exceptions to policy
The Vice-President (People) and Chief People Officer is authorised to approve variations to this policy in exceptional circumstances. Any such variation will be recorded by the Human Resources Department.
7.11.7 Definitions
UniSuper is the industry superannuation fund for the Australian higher education and research sector.
Related Documents
Superannuation Guarantee Administration Act 1992 (Cth)
QUT Superannuation information (QUT staff access only)
UniSuper website
QSuper websiteModification History
|
Date |
Sections |
Source |
Details |
| 14.03.23 | All | Vice-President (People) and Chief People Officer |
Periodic review - policy revised to reflect change to the industrial instruments - effective 31.03.23 |
| 13.05.22 | All | Director, Human Resources - Centres of Expertise/Remuneration and Benefits Specialist (Superannuation) | Revised policy in accordance with Superannuation legislation changes, effective 1.11.2021 |
| 27.01.22 | B/7.11.8 | Director, Human Resources - Centres of Expertise | Revised policy to align with revised HR delegations and to remove references to the EA COVID-19 Schedule |
| 30.04.21 | All | Director, Governance, Legal and Performance | Editorial amendments to align with Repositioning QUT for a post-COVID world organisational change - effective 31.01.21 |
| 20.08.20 | B/7.11.8 | Associate Director, Human Resources (Workplace Relations) | New section to reflect the Enterprise Agreement Variations |
| 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 |