Employer superannuation obligations
We have specialist expertise in advising employers on all aspects of compliance with the Superannuation Guarantee (Administration) Act 1992, and in their default fund arrangements for employees as well as contractual matters concerning superannuation as part of the remuneration package. We advise on changing fund arrangements and the documentation of employer agreements with superannuation fund providers, such as participation agreements and service level contracts.
In particular, we have had extensive experience advising on the application of ATO policy on ‘ordinary time earnings’ and determining what elements of remuneration are 'superannuable'. We have also advised many employers on how to handle Superannuation Guarantee shortfalls which can go back over many years, including advising in response to ATO audits.
We also work with employers on the ‘choice of fund’ regime, including complex interactions with industrial awards and agreements for different categories of employers.
We advise companies effecting mergers and acquisitions to draft provisions of business sale/purchase agreements dealing with employee superannuation arrangements, particularly in sensitive industrial relations contexts where historical defined benefit arrangements may need to be preserved, including the quarantining of surplus assets within the fund.