Premier & Cabinet

Type:
Department of Premier and Cabinet Circular
Identifier:
C2007-31
Status:
Archived

C2007-31 Salary Sacrifice of Compulsory Member Contributions - State Superannuation Scheme (SSS)

Description

Parliament passed legislative amendments on 27 June 2007 to allow members of SSS to salary sacrifice all or part of their compulsory member contributions to the scheme. 

Detailed Outline

Parliament passed legislative amendments on 27 June 2007 to allow members of SSS to salary sacrifice all or part of their compulsory member contributions to the scheme. 

Agencies should allow SSS members to commence salary sacrifice member contributions as soon as practicable. 

Salary sacrifice of member contributions will not affect superable salary.  For SES officers, salary sacrifice of member contributions will not reduce the maximum superable salary that can be nominated.

State Super will write to every SSS member about the new salary sacrifice arrangements.  State Super will advise each member of his or her current superable salary and the amount of contributions the member is required to pay into SSS.  Each member will need to lodge a salary sacrifice election with his or her employer not with State Super.

Employers should contact their agency's Employer Relations Officer at Pillar Administration if more information is needed.  

Employees may contact State Super's Customer Service on 1300 130 096 for information about the salary sacrifice arrangements or visit the StateSuper website at www.statesuper.nsw.gov.au which will include a calculator to assist members.

SSS members can continue to make optional contributions to First State Super or another complying accumulation fund.

Employers should advise employees to seek independent financial advice on their salary sacrifice arrangements.

A.S Smith

Acting Director General

Overview

Compliance

Not Mandatory

AR Details

Date Issued
Jul 2, 2007
Review Date
Jul 2, 2017
Replaces
Replaced By

Contacts

Contact
Contact us
Phone
02 9228 5555
Publishing Entity
Department of Premier and Cabinet
Issuing Entity
Department of Premier and Cabinet