Superannuation

Superannuation (Productivity Benefit) Act 1988

Access to the provisions under the Superannuation (Productivity Benefit) Act 1988 (PB Act) closed for new employees from 1 July 2006. A small number of MOP(S) Act employees remain covered by the PB Act. Employees covered by the PB Act continue to be paid employer superannuation contributions in accordance with the PB Act during their current term of employment, unless they elect to join the PSS or PSSap.

Employer superannuation contributions to funds under the PB Act are generally 9% of the employee’s superannuation salary. Contributions under the PB Act are unable to be changed through the Enterprise Agreement. MOP(S) Act employees covered by the PB Act who commenced their current term of MOP(S) Act employment before 1 July 2005 may remain eligible to join the PSS.

Employees covered by the PB Act who commenced their current term of MOP(S) Act employment on or after 1 July 2005 may become eligible for choice of superannuation fund and employer superannuation contributions under the SG Act by electing to join the PSSap and then choosing another fund.