AN150038 – Clerks (Retail Industry) Award

CLAUSE 5.7 SUPERANNUATION
OPDATE 12:03:2004 on and from

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.

5.7.1 Definitions

In this clause, unless the contrary intentions appears:

5.7.1.1 Existing Fund means any superannuation scheme registered and approved by the Insurance and Superannuation Commission to which the employer was making contributions for employees under this Award prior to the 13 February
1990.

5.7.1.2 Preferred Fund means:

5.7.1.2(a) the Statewide Superannuation Trust established and governed by a Trust Deed dated 29th September 1988, as may be amended from time to time, and includes any superannuation scheme which may be made in succession to it; or

5.7.1.2(b) the Australian Retirement Fund established and governed by a Trust Deed dated 11th July 1986, as may be amended from time to time, and includes any superannuation scheme which may be made in succession to it; or

5.7.1.2(c) the Retail Employees Superannuation Trust (REST) established and governed by a Trust Deed dated 13th December 1988 as may be amended from time to time, and includes any superannuation scheme which may be made in succession to it;

5.7.1.3 Ordinary Time Earnings means, the wages received by an employee for work performed in ordinary hours and include allowances and over award payment but will not include any bonuses, commission, payment for overtime or other extraordinary payment, remuneration or allowance.

5.7.1.4 Regular Employee means an adult employee who is paid for a minimum of 30 ordinary hours in any period of 28 consecutive calendar days, or a junior employee who is paid for a minimum of 60 ordinary hours in any period of 28 consecutive calendar days.

5.7.2 Membership

An employer will ensure an employee becomes and remains (whilst employed by the employer) a member of an existing fund or the preferred fund.

5.7.3 Contributions

5.7.3.1 An employer will make contributions for an employee in accordance with the legislative requirements in 5.7.4.

5.7.3.2 Regular employees ineligible for employer contributions pursuant to 5.7.3.1, will be entitled to employer contributions of 3% of ordinary time earnings, providing:

5.7.3.2(a) the employee has completed at least 3 months employment with the employer;

5.7.3.2(b) an employee, who was previously a member of a fund immediately prior to commencement of employment with the current employer, may be immediately eligible to apply for membership of the fund.

5.7.4 Superannuation legislation

The subject of superannuation is dealt with extensively by legislation, including the Superannuation Guarantee (Administration) Act 1992, the Superannuation Guarantee Charge Act 1992, the Superannuation Industry (Supervision) Act 1993 and the Superannuation (Resolution of Complaints) Act 1993. This legislation, as varied from time to time, governs the superannuation rights and obligations of the parties.

5.7.5 Exemption

Subject to 5.7.5.1(1) and (2), where an employer or an employee is a member of the Brethren and holds a certificate pursuant to Section 116 of the Act 1994, the employer will be exempt from making contributions and the employee from having contributions made on the employees behalf to a preferred fund provided that:

5.7.5.1 in the case of an employer, contributions on behalf of employees will be made into a fund operated in accordance with and identified as a BR1188 fund; and

5.7.5.2 in the case of an employee, contributions will be made to a fund nominated by the employee operated in accordance with and identified as a BR1188 fund.