26 September 2023

Treasury reveals Superannuation changes

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The Treasury has announced changes in superannuation arrangements for Government employees, due to come into force on 1 July.

From that date, Government employees will receive 12.75 per cent in employer superannuation contributions — higher than the Commonwealth’s superannuation guarantee rate.

Police Officers will receive 18 per cent.

In a statement, the Treasury said the rates would apply to ordinary time earnings (OTE) which included shift and weekend penalties and all forms of paid leave.

“No public sector employee will experience a lower employer superannuation contribution once these changes have been made,” Treasury said.

“Many people will experience no change, while others may receive more employer contributions,” it said.

“These changes are designed to simplify contribution arrangements and provide more flexibility for public sector employees.”

Treasury said the changes would apply to employees in all Government Departments, most Statutory Bodies and Public Service offices with full details published in the Superannuation (State Public Sector) Notice 2021 once finalised and approved.

“Depending on your remuneration arrangements, you may receive more in employer superannuation contributions,” the Treasury said.

“This will be the case for most shift workers and continuous shift workers,” it said.

“Many people will experience no change to their employer contributions; none will receive a lower employer superannuation contribution.”

Members with any questions are advised to contact the Government Superannuation Officer at ‘[email protected]’.

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