Commonwealth legislation

Superannuation (PSS) Productivity Contribution (2023-2024) Determination 2023

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Commonwealth

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legislative instrument

Plain English Summary

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This Determination replaces the fortnightly productivity contribution rates in Rule 4.3.2 of the PSS Rules for the 2023–24 financial year, effective 1 July 2023. It sets fixed-dollar amounts for lower pay bands and percentage-based contributions for higher bands. It applies to Public Sector Superannuation (PSS) members by changing the fortnightly amounts collected under the scheme. The change is made by a Commonwealth Superannuation Corporation delegate under rule 4.3.3 and requires payrolls to apply the new rates.

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Superannuation (PSS) Productivity Contribution (2023-2024) Determination 2023

Superannuation (PSS)

Productivity Contribution

(2023-2024) Determination 2023

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I, JARRED BROWN, Senior Manager, Governance & External Providers, Customer Operations, 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 14 June 2023

J BROWN

Delegate of Commonwealth Superannuation Corporation

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1 Name of Determination

This Determination is the Superannuation (PSS) Productivity Contribution (2023-2024) Determination 2023.

2 Commencement

This determination shall take effect on 1 July 2023.

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 2023, 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 $2,710.00 $81.30

$2,710.00 or more but less than The amount that is 3% of the

$4,366.00 employee’s fortnightly rate of

salary

$4,366.00 or more but less than $130.98

$6,549.00

$6,549.00 or more The amount that is 2% of the

employee’s fortnightly rate of

salary

View image in the official source

Source text

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

1 Superannuation (PSS) Productivity Contribution (2023-2024) Determination 2023

Superannuation (PSS)

Productivity Contribution

(2023-2024) Determination 2023

Dated 14 June 2023

J BROWN

Delegate of Commonwealth Superannuation Corporation

1 Name of Determination

This Determination is the Superannuation (PSS) Productivity Contribution (2023-2024) Determination 2023.

2 Commencement

This determination shall take effect on 1 July 2023.

3 Productivity Contributions

Table

Fortnightly rate of salary Fortnightly productivity

contribution

Less than $2,710.00 $81.30

$2,710.00 or more but less than The amount that is 3% of the

$4,366.00 employee’s fortnightly rate of

salary

$4,366.00 or more but less than $130.98

$6,549.00

$6,549.00 or more The amount that is 2% of the

employee’s fortnightly rate of

salary