Manual of Policies and Procedures

B/7.11 Superannuation

Policy Owner

Remuneration and Benefits Specialist (Superannuation)

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 Employer contributions
7.11.5 QSuper Superannuation Funds
7.11.6 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

Remuneration and Benefits Specialist (Superannuation)

  • administers QUT's superannuation obligations

Senior Manager, Insurance and 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
Finance Manager (Accounting, Capital and Equipment)
  • ensures the collections and payments are reconciled through the Finance System General Ledger-Superannuation Clearing account
Vice-President (People) and Chief People Officer
  • ensures that QUT complies with its obligations under superannuation legislation and certified industrial instruments

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7.11.4 Employer contributions

There are several employer superannuation contribution arrangements.

All staff members with an ongoing or fixed term contract are eligible for 17% employer contributions.

All sessional and casual staff receive employer contributions as required by the applicable legislation, currently the Superannuation Guarantee Administration Act 1992 (Cth). 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 and/or who earn a salary or wage of less than $450 in a calendar month.

The University only applies the Superannuation Guarantee Maximum Contributions Base (MCB) to Senior Staff and only if requested.

17% Employer Contributions to Fund of Choice

For all new employees appointed on or after 1 November 2021, QUT offers a choice of superannuation fund.

In the event the staff member does not choose a super fund, QUT will be required, as per the provisions of the Superannuation Guarantee Administration Act 1992 (Cth), to seek the staff member’s “stapled superannuation fund” from the Australian Taxation Office (ATO).

17% Employer Contributions to UniSuper (Defined Benefit, Accumulation 2 or Accumulation 1)

From 1 November 2021 in the event there is no choice made and no stapled fund identified by the ATO, QUT will pay the 17% employer contribution to the UniSuper Accumulation 1 Plan as QUT’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.

For existing staff employed before 1 November 2021, QUT contributes the equivalent of 17% of gross salary to either the UniSuper Defined Benefit Plan, the UniSuper Accumulation 2 Plan or the UniSuper Accumulation 1 Plan.

Superannuation Guarantee contributions to Fund of Choice or UniSuper Accumulation 1

For all new employees from 1 November 2021 QUT offers a choice of superannuation fund.

In the event the staff member does not choose a super fund, QUT will be required, as per the provisions of the Superannuation Guarantee Administration Act 1992 (Cth), to seek the staff member’s “stapled superannuation fund” from the Australian Taxation Office (ATO).

In the event there is no choice made and no stapled fund identified by the ATO, QUT will pay the Superannuation Guarantee contributions to the UniSuper Accumulation 1 Plan as QUT’s default superannuation plan.

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7.11.5 QSuper Superannuation Funds

QUT pays 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

Depending on the plan, contributions of up to 14.65% are arranged for members.

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7.11.6 Definitions

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

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Related Documents

Superannuation Guarantee Administration Act 1992 (Cth)

QUT Superannuation information (QUT staff access only)

UniSuper website

QSuper website

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Modification History

Date

Sections

Source

Details

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

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