AN120098 – Butter, Cheese & Other Dairy Products (State) Award

31. SUPERANNUATION

Note: The Superannuation Legislation Amendment (Choice of Superannuation Funds) Act 2005 provides that individual employees generally have the opportunity to choose their own superannuation funds. For further information see the AIRC guidance note — Choice of Superannuation Funds and Award Provisions.

The subject of Superannuation is dealt with extensively by federal legislation including the Superannuation Guarantee (Administrative) Act 1992, the Superannuation Guarantee Charge Act 1992, the Superannuation Industry (Supervision) Act 1993, the Superannuation (Resolution of Complaints) Act 1993 and section 124 of the Industrial Relations Act 1996 (NSW).

The legislation, as varied from time to time, governs the superannuation rights and obligations of the parties.

(i) Definitions

(a) "Scheme" means any of the following funds:

1. the Australian Superannuation savings Employment Trust (ASSET);

2. the Meat Industry Employees Superannuation Fund (MIESF); or

3. any scheme approved by the employer, the trust deed of which meets the Commonwealth Government's Standards for Occupational Superannuation.

4. any superannuation fund nominated by the employee and approved by the employer in accordance with section 124 of the Industrial Relations Act 1996 (NSW).

As preferred superannuation funds for employees covered by this award.

(b) "Ordinary Time Earnings" means remuneration for an employee's weekly number of hours of work, excluding overtime hours, calculated at the ordinary-time rate of pay, including the following:

1. Payment for ordinary hours of work;

2. Shift premiums for ordinary hours of work;

3. any percentage addition payable to casual employees for ordinary hours of work;

4. ordinary time award allowances (not including expense related allowances);

5. overaward payments for ordinary hours of work.

(ii) Contributions

Employers bound by this award will, for each employee, contribute the appropriate percentage of the employee's ordinary time earnings as required by the Superannuation Guarantee legislation to a Scheme (as defined in subclause (i)(a) above) nominated by the employee.