As members are aware, employers are required to make superannuation payments for employees into their nominated super fund, at regular intervals. Superannuation contributions are compulsory contributions by an employer for the benefit of an employee which applies by virtue of the National Employment Standards (NES).
Superannuation contributions are calculated as a set percentage of an employee’s ordinary time earning (OTE) and failure to make these payments may incur penalties for the company or prosecution by the ATO.
Members are reminded that the compulsory superannuation contribution for employees will increase from 11.5% to 12% with effect 1 July 2025, regardless of payperiod or wage increases.
If your employees are covered by an enterprise bargaining agreement, you must ensure that you make the correct contributions in line with the superannuation entitlement stipulated in the agreement.
For more information reach out to the Workplace Relations team on 02 6175 5900 or email us at workplace@mba.org.au.
