Contributions

Your New Scheme accepts both employer and member contributions and the amount that is required to be contributed is dependent on several factors.

Employer contributions

Your employer is required to contribute to your superannuation benefit. The amount your employer is required to contribute is a percentage based on your superable salary, which is determined on the advice of the Fund Actuary. Its important to remember that your benefit is determined based on your salary, service and personal contribution rate, not what your employer contributes.

For those New Scheme members who turn age 65 prior to 1 July 2010, contributory membership of the New Scheme
ceases at age 65. After this, the employer meets its Superannuation Guarantee obligations by making 9% contributions to a complying superannuation fund.

For those New Scheme members who turn age 65 on or after 1 July 2010 contributory membership in the New Scheme continues until work ceases or until age 75 (whichever occurs first).

If you wish to cease contributions from age 65 yet keep working you may wish to consider exempt officer status as described on page 30.

Member contributions

New Scheme members may elect to make no contributions or contribute 3%, 5% or, in certain limited cases, 7% of their after-tax salary to the Scheme. Rates are dependant whether you are paying from pre tax salary (salary sacrifice) or post tax salary.

Contribution rates

Contribution Rate
(post tax) Contribution Rate
(pre tax) Accrual rate each year (taxed)*

0% 0% 8.5%

3% 3.6% 14.0%

5% 5.9% 17.5%

7%
(prescribed class members and other limited cases) 8.3%
(prescribed class members and other limited cases) 21.0%

24.5%
(accrual rate for prescribed fire fighters only)

* % of final average salary for each year contributing at this rate

Member contributions are:

based on your current listed superable salary,
adjusted (pro-rata) for periods of part-time service.

You may elect to vary your contribution rate each year during two periods:

Contribution election periods

Contribution rate election periods New contribution rate effective from Based on superable salary as at

February to April First pay day in following July 1 May in the same year

August to October First payday in following January 1 May in previous year.

If you are eligible you may elect to salary sacrifice your member contributions (i.e. contributions are paid from pre-tax salary instead of from after-tax salary). Salary Sacrificing includes a contribution rate to cover the superannuation contributions tax.

Annual adjustment

Your salary for contribution purposes is adjusted annually on the first pay day in July and based on your superable salary at 1 May of that year.
(Note: in respect of salary packaged employees (i.e. executives) contributions are adjusted as increases occur).

Any salary increase applicable after 1 May will not be reflected in your contributions until the following year.

Calculate your contribution (full-time):
A 38 year-old on a salary of $45,325 per annum (as at 1st May) personally contributing 5% would have a fortnightly contribution of $86.86 as shown below:

$45,325

26.0893*

$86.86 per fortnight

*Represents the number of fortnights in a year (allowing for leap years).

Your contribution impacts your super entitlements. Check out our scenario modeling feature in the Member Login area to learn more, The estimates will allow you to change your salary, service and/or contribution rate; then show you the difference to your entitlement.

Contributions for part-time service

If you are employed on a part-time basis, you must make contributions in accordance with the time fraction you work based on your full-time equivalent salary. You cannot contribute at the full-time rate.

Special conditions apply if your reduced time fraction is due to ill health. In this case, please call the ESSSuper Member Contact Centre and ask to speak to one of the Disability Consultants.

Calculate your contribution (part-time):
A 38 year-old on a salary of $45,325 per annum (as at 1st May) personally contributing 5% and working 6 days a fortnight (60% or 0.6 of full-time hours) would have a fortnightly contribution of $52.12 as shown below:

$45,325