Providing you meet the eligibility conditions outlined below, the Fund can accept the following types of contributions on your behalf:
- Your own contributions,
- Contributions from your employer,
- Contributions from your spouse,
- Rollovers or transfers from other acceptable superannuation products, and
- Rollovers of termination payments from previous employers.
Contributions can be made by:
Direct transfers from your employer's payroll system (if your employer permits),
Monthly 'direct debit' to deduct regular amounts from your nominated financial institution account.
For members under 65 years of age, the Fund can accept any contributions. There are no conditions. A connection with work is not required.
For members aged 65 to 74, the Fund can accept contributions if the contribution is a mandated employer contribution, or if the contribution is made by the member and the member has been gainfully employed on at least a part time basis during the financial year in which the contributions are made. A person is gainfully employed on a part time basis during a financial year if the person has worked at least 40 hours in a period of not more than 30 consecutive days, in that financial year.
For members aged 75 and over, The fund can only accept mandated employer contributions made in satisfaction of an employer's obligations under the Superannuation Guarantee (administration) Act 1992 or an industrial award or agreement.
Contributions can be paid weekly, monthly, quarterly, annually or periodically. Employer contributions on behalf of employees are required to be paid at least quarterly, within 28 days from the end of each calender quarter.
Employer Superannuation Guarantee Contribution is presently 9% of a person's salary. For the purpose of calculating contributions, salary is based usually on a definition of 'ordinary time earnings', which consists of over-award payments, shift loadings, most bonuses and commissions. Overtime payments specifically are excluded from the definition.