Common use of Salary Sacrifice to Superannuation Clause in Contracts

Salary Sacrifice to Superannuation. (a) Notwithstanding the provisions of Part III - SALARIES AND RELATED MATTERS, Clause 2 Salaries, by agreement with the employer, employees who elect in writing to do so, may enter into an agreement with the employer to sacrifice a component of their weekly ordinary time wage to superannuation. (b) Employers will not provide financial advice to employees but will provide to them such salary details as are necessary for the employee to receive independent financial advice. (c) Superannuation payments required under the Superannuation Guarantee (Administration) Xxx 0000 as amended from time to time must be calculated on the agreement wage rate as per Part III - SALARIES AND RELATED MATTERS, Clause 2 - Salaries as if no salary sacrifice arrangement were in place. (d) If during the life of a salary sacrifice arrangement between the employer and the employee, the employee becomes entitled to workers compensation payments, or is in receipt of a redundancy payment, the employee will not receive less than the entitlements due if no salary sacrifice arrangements had been entered into with the employer. (e) Annual Leave loading entitlements must be calculated on the agreement rate of pay as if no salary sacrifice arrangement were in place. (f) Any increases through agreement amendments or Enterprise Bargaining shall be payable to employees covered by a salary sacrifice arrangement; such increase to be applied to the base rate of pay before salary sacrifice. (g) Employees who have entered into a salary sacrifice arrangement will be given the opportunity to review such arrangement the time of salary increases and/or at times of changed economic circumstances of the employee, and to amend or withdraw from such an arrangement.

Salary Sacrifice to Superannuation. (a) 20.1 Notwithstanding the provisions of Part III - SALARIES AND RELATED MATTERS, Clause 2 17 (Salaries, ) by agreement with the employerEmployer, employees Employees who elect in writing to do so, so may enter into an agreement with the employer Employer to sacrifice a component of their weekly ordinary time wage to superannuation. (b) 20.2 Employers will not provide financial advice to employees Employees but will provide to them such salary details as are necessary for the employee Employee to receive independent financial advice. (c) 20.3 Superannuation payments required under the Superannuation Guarantee (Administration) Xxx 0000 Act 1992 as amended from time to time must be calculated on the agreement wage rate as per Part III - SALARIES AND RELATED MATTERS, Clause 2 - Salaries 17 (Salaries) as if no salary sacrifice arrangement were in place. (d) 20.4 If during the life of a salary sacrifice arrangement between the employer Employer and the employeeEmployee, the employee Employee becomes entitled to workers compensation Workers’ Compensation payments, or is in receipt of a redundancy payment, the employee Employee will not receive less than the entitlements due as if no salary sacrifice arrangements had been entered into with the employerEmployer. (e) Annual Leave loading entitlements must be calculated on the agreement rate of pay as if no salary sacrifice arrangement were in place. (f) 20.5 Any increases through agreement amendments or Enterprise Bargaining shall be payable to employees Employees covered by a salary sacrifice arrangement; such increase to be applied to the base rate of pay before salary sacrifice. (g) 20.6 Employees who have entered into a salary sacrifice arrangement will be given the opportunity to review such arrangement the time of salary increases and/or at times of changed economic circumstances of the employeeEmployee, and to amend or withdraw from such an arrangement.

Salary Sacrifice to Superannuation. (a) 22.1 Notwithstanding the provisions of Part III - SALARIES AND RELATED MATTERS, Clause 2 19 (Salaries, ) by agreement with the employerEmployer, employees Employees who elect in writing to do so, so may enter into an agreement with the employer Employer to sacrifice a component of their weekly ordinary time wage to superannuation. (b) 22.2 Employers will not provide financial advice to employees Employees but will provide to them such salary details as are necessary for the employee Employee to receive independent financial advice. (c) 22.3 Superannuation payments required under the Superannuation Guarantee (Administration) Xxx 0000 Act 1992 as amended from time to time must be calculated on the agreement wage rate as per Part III - SALARIES AND RELATED MATTERS, Clause 2 - Salaries 19 (Salaries) as if no salary sacrifice arrangement were in place. (d) 22.4 If during the life of a salary sacrifice arrangement between the employer Employer and the employeeEmployee, the employee Employee becomes entitled to workers compensation Workers’ Compensation payments, or is in receipt of a redundancy payment, the employee Employee will not receive less than the entitlements due as if no salary sacrifice arrangements had been entered into with the employerEmployer. (e) Annual Leave loading entitlements must be calculated on the agreement rate of pay as if no salary sacrifice arrangement were in place. (f) 22.5 Any increases through agreement amendments or Enterprise Bargaining shall be payable to employees Employees covered by a salary sacrifice arrangement; such increase to be applied to the base rate of pay before salary sacrifice. (g) 22.6 Employees who have entered into a salary sacrifice arrangement will be given the opportunity to review such arrangement the time of salary increases and/or at times of changed economic circumstances of the employeeEmployee, and to amend or withdraw from such an arrangement.