Additional superannuation Sample Clauses

Additional superannuation relationship with wages (a) Voluntary contributions under clause 3.10.5 or salary sacrifice under clause 3.10.6 are in addition to and do not offset our obligation to pay superannuation under clause 3.10.1, and must be paid to the same nominated fund as per clause 3. (b) It will not be a breach of this Agreement if the actual wages paid to you fall below the rates set by this Agreement solely because of the payment of additional superannuation contributions under clause
Sample 1Sample 2
AutoNDA by SimpleDocs
Additional superannuation. The Company agrees to provide to all permanent employees a contribution of one per-cent (1.0%) of the employee's wage or salary in relation to ordinary hours of work only, for the purpose of funding an appropriate insurance arrangement. At the employee's election, this insurance contribution rate may be directed to Death and/or Disability insurance cover, Income Continuance insurance (for example injury or illness) or as a superannuation contribution - or any combination of those options - provided that the Company's contribution rate is no more than 1.0% of the employee's annual wage or salary in relation to ordinary hours of work in any year of service. In the event that an employee's insurance arrangements under this clause exceeds the Company's contribution rate in any year of service, the employee will contribute the balance of the costs via a written salary sacrifice arrangement. The Company's contribution rate may not in any circumstances be taken as a part of an employee's salary. Unless an alternative scheme is agreed in writing between the Company and an employee, this insurance contribution must be made through the appropriate superannuation scheme. This insurance contribution scheme (but not the contribution rate) may be reviewed on an annual basis by the Company, or as required due to changes in the details of any relevant insurance policy or legislation affecting the scheme. In the event the Company decides to discontinue the scheme, the parties will discuss whether the contribution rate is to cease or be made to the employee's superannuation fund.
Sample 1
Additional superannuation. 21.1. Subject to this clause, the Council shall pay permanent employees who are entitled to superannuation an additional 1% superannuation on their superable salary. Such payment shall be paid to the employee’s superannuation fund as a co-contribution. 21.2. The maximum employer superannuation contribution that the Council shall be required to pay on behalf of an employee under this Agreement shall be 12 percent. For example, if the Council is required by legislation or the Award to pay 11.5% superannuation, the Council would only be required to pay an additional 0.5% superannuation under this Agreement. 21.3. This clause shall cease to apply if, and when, legislation or the Award requires the Council to pay employer superannuation contributions of 12% percent or more.
Sample 1
Additional superannuation. In addition to the amount required under clause 57.1(b), the Company will pay additional Company superannuation on behalf of each employee (apart from casual employees) into their nominated superannuation fund as follows: $1000 (gross) The commencement of this Agreement; $1000 (gross) 1 July 2009; $1000 (gross) 1 July 2010.
Sample 1
Additional superannuation. It is agreed between the parties that all employees may contribute in excess of the minimum superannuation guarantee requirements, subject to the following: a) Arrangement for salary sacrifice is to be at the discretion of the individual employee concerned; b) The salary for superannuation purposes will be the Agreement salary applying to the employee; and c) Any such arrangement under this clause shall comply with current Australian Taxation Office and superannuation rules, guidelines and legislative provisions.
Sample 1
Additional superannuation. Where an Employee wishes to have their pay, salary sacrificed for additional superannuation, the request must be in writing and the Employer will comply with the Employee’s request within 28 days. All entitlements and benefits contained in this Agreement will be calculated on the pre-salary sacrifice pay rate. Such sacrifice will be in addition to the Employer’s Superannuation Guarantee (Administration) Act 1992 obligations. An Employee may adjust the amount the amount the Employee has authorised their Employer to pay from the wages of the Employee providing the Employer three (3) months written notice to the Employer.
Sample 1

Related to Additional superannuation

  • Superannuation 13.1 The Employer shall contribute, on behalf of the Employee, superannuation to a fund that will be nominated by the Employer, in accordance with the requirements of the relevant, prevailing superannuation legislation.

  • Superannuation fund Unless, to comply with superannuation legislation, the employer is required to make the superannuation contributions provided for in Clause 24(b) to another superannuation fund that is chosen by the employee, the employer must make the superannuation contributions provided for in Clause 24(b) and pay the amount authorised under Clauses 24(d)(i) or 24(d)(ii) to one of the following superannuation funds: (i) Health Employees Superannuation Trust of Australia (HESTA); (ii) any superannuation fund to which the employer was making superannuation contributions for the benefit of its employees before 12 September 2008, provided the superannuation fund is an eligible choice fund and is a fund that offers a MySuper product or is an exempt public sector scheme.

  • Additional Employee Benefits Sec. 2201

  • Health & Welfare Benefits Executive shall be eligible to participate in all health and welfare benefits provided generally to other employees of the Company.

  • HEALTH & WELFARE 16:1 The parties signatory hereto shall enter into a Health and Welfare Plan for which there is a Trust Agreement, known as the Line Construction Benefit Fund, for the purpose of providing insurance benefits for eligible employees and/or their dependents. Effective the first of the month following the signature date of this Agreement, the Employer shall pay to the Line Construction Benefit Fund the sum of $6.50 for each hour worked. Hours worked shall be deemed to include straight-time hours worked, overtime hours worked, and report time not worked. Remittance shall be forwarded to the place designated by the parties hereto on or before the fifteenth (15th) day of each month for each hour worked in weekly payroll periods ending during the preceding month, together with a monthly payroll report on a form to be furnished to the Employer. It is understood and intended by the parties to this Agreement that the purpose of this clause is to establish an Employer financed Health and Welfare Trust and that contributions thereto shall not be deemed to be wages to which any employee shall have any right other than the right to have such contributions paid over to the Trust fund in accordance herewith. Failure of an individual Employer to make all payments provided for, including liquidated damages for late payments, within the time specified, shall be a breach of this Agreement and will further require action by the Trustees as set forth in the Trust Agreement. Any increase in the required contributions set forth above will be paid equally (50% by the Employer and 50% by the Employee). The amount paid by the Employee will come from their NEAP contribution. 16:2 HRA: Effective the first of the month following the signature date of this Agreement, the Employer also agrees to pay into the Line Construction Benefit Fund $1.00 per hour through the term of this Agreement. HRA is calculated on all hours worked for all working classifications covered by this Agreement. These contributions shall be used to provide Health Reimbursements Accounts(s) under the Line Construction Benefit Fund Plan of Benefits.

  • Health and Welfare Benefits applies to full-time nurses only)

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

  • EMPLOYEE BENEFIT PROGRAM (i) During the TERM, the EMPLOYEE shall be entitled to participate in all formally established employee benefit, bonus, pension and profit-sharing plans and similar programs that are maintained by the EMPLOYERS from time to time, including programs in respect of group health, disability or life insurance, reimbursement of membership fees in civic, social and professional organizations and all employee benefit plans or programs hereafter adopted in writing by the Boards of Directors of the EMPLOYERS, for which senior management personnel are eligible, including any employee stock ownership plan, stock option plan or other stock benefit plan (hereinafter collectively referred to as the "BENEFIT PLANS"). Notwithstanding the foregoing sentence, the EMPLOYERS may discontinue or terminate at any time any such BENEFIT PLANS, now existing or hereafter adopted, to the extent permitted by the terms of such plans and shall not be required to compensate the EMPLOYEE for such discontinuance or termination. (ii) After the expiration of the TERM or the termination of the employment of the employee for any reason other than JUST CAUSE (as defined hereinafter), the EMPLOYERS shall provide a group health insurance program in which the EMPLOYEE and her spouse will be eligible to participate and which shall provide substantially the same benefits as are available to retired employees of the EMPLOYERS on the date of this AGREEMENT until both the EMPLOYEE and her spouse become 65 years of age; provided, however that all premiums for such program shall be paid equally by the EMPLOYERS and the EMPLOYEE and/or her spouse after the EMPLOYEE's retirement; provided further, however, that the EMPLOYEE may only participate in such program for as long as the EMPLOYERS elect in their sole discretion to make available an employee group health insurance program which permits the EMPLOYERS to make coverage available for retirees.

  • Retirement and Welfare Benefits During the Term, the Executive shall be eligible to participate in the Company’s health, life insurance, long-term disability, retirement and welfare benefit plans, and programs available to similarly-situated employees of the Company, pursuant to their respective terms and conditions. Nothing in this Agreement shall preclude the Company or any Affiliate (as defined below) of the Company from terminating or amending any employee benefit plan or program from time to time after the Effective Date.

  • Health and Welfare Benefit Plans During the Employment Period, Executive and Executive’s immediate family shall be entitled to participate in such health and welfare benefit plans as the Employer shall maintain from time to time for the benefit of senior executive officers of the Employer and their families, on the terms and subject to the conditions set forth in such plan. Nothing in this Section shall limit the Employer’s right to change or modify or terminate any benefit plan or program as it sees fit from time to time in the normal course of business so long as it does so for all senior executives of the Employer.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!