Commonwealth legislation

Superannuation (PSS) Productivity Contribution (2020-2021) Determination 2020

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Commonwealth

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legislative instrument

Plain English Summary

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This Determination replaces the productivity‑contribution table in the PSS Rules for the 2020–21 financial year, setting fortnightly contribution amounts or percentage rates calculated from an employee’s fortnightly salary. It commences on 1 July 2020 and was made by the CEO as delegate.

Mechanically, contributions are applied by salary bands—fixed-dollar amounts for the lowest and one middle band, 3% of fortnightly salary for the next band, and 2% for the highest band—reducing take‑home pay and requiring payroll systems to apply the new rates; the CEO’s annual substitution implements the change.

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Superannuation (PSS) Productivity Contribution (2020-2021) Determination 2020

Superannuation (PSS)

Productivity Contribution

(2020-2021) Determination 2020

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I, PETER CARRIGY-RYAN, Chief Executive Officer and Delegate of Commonwealth Superannuation Corporation, pursuant to rule 4.3.3 of the PSS Rules, in the Schedule to the Deed in force under section 4 of the Superannuation Act 1990, DETERMINE as follows:

Dated 9 June 2020

P CARRIGY-RYAN

Delegate of Commonwealth Superannuation Corporation

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1 Name of Determination

This Determination is the Superannuation (PSS) Productivity Contribution (2020-2021) Determination 2020.

2 Commencement

This determination commences on 1 July 2020.

3 Productivity Contributions

For Rule 4.3.3 of the PSS Rules, the table in Rule 4.3.2 has effect, for the financial year starting on 1 July 2020, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table

Fortnightly rate of salary Fortnightly productivity

contribution

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Less than $2,488.67 $74.66

$2,488.67 or more but less than The amount that is 3% of the

$4,009.33 employee’s fortnightly rate of

salary

$4,009.33 or more but less than $120.28

$6,014.00

$6,014.00 or more The amount that is 2% of the

employee’s fortnightly rate of

salary

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Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Superannuation (PSS) Productivity Contribution (2020-2021) Determination 2020

Superannuation (PSS)

Productivity Contribution

(2020-2021) Determination 2020

Dated 9 June 2020

P CARRIGY-RYAN

Delegate of Commonwealth Superannuation Corporation

1 Name of Determination

This Determination is the Superannuation (PSS) Productivity Contribution (2020-2021) Determination 2020.

2 Commencement

This determination commences on 1 July 2020.

3 Productivity Contributions

Table

Fortnightly rate of salary Fortnightly productivity

contribution

Less than $2,488.67 $74.66

$2,488.67 or more but less than The amount that is 3% of the

$4,009.33 employee’s fortnightly rate of

salary

$4,009.33 or more but less than $120.28

$6,014.00

$6,014.00 or more The amount that is 2% of the

employee’s fortnightly rate of

salary