AN150130 – Retail Industry (South Australia) Award

CLAUSE 5.8 SUPERANNUATION
OPDATE 15:03:2006 1st pp on or after

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.

5.8.1 Definitions

5.8.1.1 Fund - In this clause all references to the fund shall mean the Retail Employees Superannuation Trust.

5.8.1.2 Ordinary time earnings - In this clause the term ordinary time earnings shall mean Award wages and supervisory and/or buying allowances, casual loadings, and penalty rates (excluding overtime) payable for work performed in ordinary time.

5.8.1.3 Trustee - In this clause all references to Trustee shall mean the Trustee of the Retail Employees Superannuation Trust.

5.8.2 Superannuation legislation

The subject of superannuation is dealt with extensively by legislation including the Superannuation Guarantee (Administration) Act 1992, the Superannuation Guarantee 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.

5.8.3 Employer contributions

An employer will make contributions into the fund for an employee in accordance with the legislative requirements in clause 5.8.2. These contributions will be based on the employee’s ordinary time earnings.

5.8.4 Employee contributions

5.8.4.1 Employees who may wish to make contribution to the fund additional to those being paid by the employer pursuant to clause 5.8.3, shall be entitled to authorise the employer to pay into the fund from the employee's wages amounts specified by the employee.

5.8.4.2 Upon such authorisation the employer shall be required to make the deduction and forward it to the fund.

5.8.4.3 Employee contributions to the fund requested under this clause 5.8.4 shall be subject to the following conditions:

5.8.4.3(a) The amount of the contribution shall be expressed in whole dollars.

5.8.4.3(b) After the first contribution, the amount of contribution shall only be adjusted from the first full pay period in July each year.

5.8.5 Existing superannuation arrangements

No employer shall be excluded from this clause on the basis of existing voluntary superannuation arrangements.

5.8.6 Exemptions

Refer to Schedule 11.

5.8.7 Notwithstanding the provisions of this clause, an employer may, in accordance with the governing rules of the relevant fund, continue to make superannuation contributions in addition to the 3% previously stipulated in the Award to any complying fund the employer was contributing to as at the date of variation to the Award.