Superannuation definition

Superannuation. , in relation to an employee, means the attainment by the employee of such age as is fixed in the contract or conditions of service, as the age on the attainment of which the employee shall vacate the employment:

Superannuation means contributions made in accordance with the Superannuation Guarantee (Administration) Act 1992;

Superannuation is the compulsory Employer contribution governed by superannuation legislation, as varied from time to time, and placed into a complying superannuation fund by the Employer on behalf of the Employee. Superannuation is paid in addition to the Base Rate.

Examples of Superannuation in a sentence

• Superannuation contributions shall be made monthly The contributions shall continue until the eligible Employee's employment is terminated, or until it is no longer lawful to make contributions.

• Where an employee fails to elect a fund upon the commencement of employement, the default fund is the Visy General Category Superannuation Fund.

• Unless the Employer is required to make superannuation contributions into another fund for the Employee, in order to comply with applicable superannuation legislation, the Employer will make superannuation contributions into the Hostplus Superannuation Fund (Hostplus) being the nominated default fund, or its successor.

• An employee shall become a member of the Co-operative Superannuation Society Pension Plan (CSS Pension Plan) after two (2) years of employment.

• Subject to the requirements under the Superannuation Guarantee (Administration) Act 1992 and the Superannuation Guarantee Charge Act 1992, the Company agrees to contribute a weekly superannuation payment for each employee into a complying industry fund i.e. C+Bus or Connect.

More Definitions of Superannuation

Superannuation means a system under Australian law where by employers are required to make contributions to an approved fund in order to provide for the employee’s retirement, or at the death of this employee;

Superannuation in relation to an employee, means the attainment by the employee of the age of superannuation as per notified Rules of the Corporation and as per the terms of employment applicable to him. In case of Functional Directors and CMD, it will mean the date till when their contract of employment is valid / in force.

Superannuation means termination of the services of an employee by the employer when the employee reaches the age of sixty years or such other age, if any, fixed in the contract of service;

Superannuation means the retirement of an employee after the attainment of such age as prescribed by the Statutory Authority.

Superannuation means in respect of each employee the date on which he attains the age of 58 years.

Superannuation means where a Participant’s employment with the Company is terminated due to his/her death, serious disability or serious incapacity;

Superannuation means the annual minimum Employer contribution referred to in clause 6.3 of this Agreement to the designated approved Superannuation fund, currently set at 9% of base salary;