Common use of Occupational Superannuation Clause in Contracts

Occupational Superannuation. Where there is a liability by the Employer to pay Superannuation contributions under the Superannuation Guarantee (Administration) Act 1992 the employer shall contribute an amount as prescribed under the said Act and in accordance with the Act (Currently 9%) Independent of any statutory or other requirements that may apply, under the terms of this agreement the Employer is specifically required to pay the contributions into a fund that is an approved occupational superannuation fund. The date of the employer’s liability to cease making such payments will coincide with the date the employee's services are terminated.