Amount of yearly contributions—particular employers
220 Amount of yearly contributions—particular employers
This section applies to the following (each an employer)—
a local government;
a local government entity.
The yearly contribution an employer must make for a permanent employee of the employer to the relevant fund for the employee is—
for the employee’s membership (if any) in Brighter Super in a defined benefit category—the amount stated, from time to time, in the trust deed; or
for the employee’s membership (if any) in Brighter Super in the accumulation category under the trust deed, or the employee’s membership in any other fund—the amount prescribed by a regulation.
If an employer is required under an industrial instrument to make superannuation contributions for an employee, the superannuation contribution required under the industrial instrument is not in addition to the yearly contribution the employer is required to make under this section.
An employer need not pay an amount as a yearly contribution to the extent that the amount can not be accepted by a regulated superannuation fund under the Commonwealth Super Act.
Note—
See the Superannuation Industry (Supervision) Regulations 1994 (Cwlth), regulation 7.04.
Subsection (2)(b) is subject to section 220B.
This Act’s bill:Explanatory memorandumSecond reading speech
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