What are the Employers' Responsibilities?
Standard Contributory members
If you’re a standard contributory member your employer component is made up of a defined benefit.
The defined benefit is worked out by using a multiple of your final average salary.
This means that SA Ambulance Service pays into the scheme whatever is required to pay out your final benefit when you leave the scheme. The Employer contributions may vary.
Super SA’s Actuary will calculate how much SA Ambulance is required to pay into the scheme on behalf of its members.
SA Ambulance Service also contributes 3% of your award salary to the Scheme (3.72% for elective or emergency services employer).
Any Employer contributions are deposited in your Award Account. The balance in this account is payable in addition to your standard entitlements.
The rest of a member’s retirement entitlement is made up of the accumulated balances in their Award, Member, Voluntary and Bonus Accounts.
The Employer Component of the Defined Benefit schemes is different to the Superannuation Guarantee.
If you’re a non contributory member, you have what is known as an accumulation benefit account
This means that SA Ambulance Service must contribute 9% of your superannuation salary to super each fortnight, regardless of whether you are a part-time or full-time employee.
This is known as the Superannuation Guarantee (SG).