Employer News - October 2022
As we enter the final quarter of the calendar year, 2022 is far from over with still so much to come.
17 Oct 2022
Prompt provision of salary history details
Over the past couple of months, multiple employers have advised us that they are unable to obtain a new employees’ pay term (salary history details) when an employee is transferred between agencies. The losing agency has been informing the gaining agency that they are unable to provide the requested information due to privacy concerns. Please be reminded that an employee’s salary history needs to be shared immediately, so that the correct salary is being reported. This will ensure that both CSC and employers have the current data and that accurate contributions are being paid.
Guiding your Graduates
On another note, the 2023 Graduate season is fast approaching, so let’s start talking now about how we can guide your upcoming Graduate Program participants. Transitioning from university to the workforce can be daunting—and the concept of superannuation is often new and can feel complex. We have plenty of resources and services available to educate your Graduates on the basics, so they start their working life with a solid understanding of the long-term importance of super. A resource of particular use is our 30-minute webinar which is an effective introduction, explaining what a 15.4% contribution actually means, how investments work, the types of insurance on offer, and how to consolidate and nominate beneficiaries so they’re setting themselves up comfortably for their eventual retirement—although it will feel very far away!
October 2022 – what’s in the newsletter
Cessation of PSS membership applications
For the cessation of a PSS membership, also known as ‘opting out’ of PSS, there are some key points to consider in the process.
In this scenario, the opt out or cessation date of a membership is the date that CSC receives a valid ‘cessation of membership’ application from the member. It is not the date that they advise your payroll/HR team, or any other date nominated by the member. This means that if PSS members approach you to request to opt out, ensure that that they are aware that, in order to cease PSS membership, they are required to submit the form to CSC.
PSS members can’t nominate a date to cease their PSS membership. Therefore, members should only submit their election to cease membership when they wish to exit the fund. CSC is currently updating the benefit application and relevant information on our website. In the meantime, ensure you continue to pay and report contributions for PSS members until the correct cessation date.
It would be greatly appreciated if you could direct any members investigating this to CSC.
Employer Services Online (ESO) eligibility determiner
If a member is set up in the incorrect fund, it can have a massive impact on both the employee and the agency. To ensure a member is in the right fund from the outset, check the ESO PSS/CSS Eligibility Determiner for every new starter born before 1 July 1990. If the new starter is not eligible for PSS/CSS or they were born after 01 July, 1990, they will need to complete a super election form prior to their first day of work. If in doubt, you can always contact CSC’s Employer Service Desk on 1300 338 240 or email@example.com.
If you have accidently set up a new starter in PSSap rather than CSS or PSS, or vice versa, it is always a good idea to contact CSC before submitting any refund request to ensure the member has not taken out funds from PSSap. Members occasionally roll funds out before you are able to recover them from PSSap, and our team can provide guidance on what do in these circumstances, and in general.
You may also encounter a situation where a member should have recommenced in CSS or PSS. Depending on the length of time that has passed, CSC may need to set up a retrospective membership, which requires certain data from you. Within our online portal you are only able to report current data, not historical—this is why it’s good practice to call us in the first instance.
Reach out to us on 1300 338 240 or at firstname.lastname@example.org if you have any questions.
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Our last Public Training sessions for 2022 will take place in December. The sessions are designed to support you to understand, and streamline, your super obligations. All sessions presented online via MS Teams.Register Now