Some agencies may have either a ‘full’ or ‘partial’ exemption from two key requirements:
The employers listed under regulation 12E of the State Superannuation Regulations 2001 are permitted to:
These employers are:
Some other employers have been permitted by the Treasurer under the provisions of section 30 of the State Superannuation Act 2000 to establish or select a default fund other than a scheme administered by GESB.
Whatever their default fund (or the funds chosen by their employees), ‘partially exempt’ employers must still base their Superannuation Guarantee contributions on the sum of ‘Ordinary Time Earnings’ defined in the Commonwealth’s Superannuation (Guarantee) Administration Act 1992, plus the additional State items prescribed under regulation 12D of the State Superannuation Regulations 2001.