Superannuation (CSS) Productivity Contribution (2020-2021) Declaration 2020 (Cth)

Superannuation (CSS)

Productivity Contribution

(2020-2021) Declaration 2020

I, ADAM SCOTT NETTHEIM, Head of Customer Operations and Delegate of the Commonwealth Superannuation Corporation, make the following Declaration under section 110D of the Superannuation Act 1976.

Dated                   5 June 2020

A NETTHEIM
Delegate of Commonwealth Superannuation Corporation

1. Name of Declaration

This Declaration is the Superannuation (CSS) Productivity Contribution (2020-2021) Declaration 2020.

2          Commencement

This Declaration commences on 1 July 2020.

3          Productivity Contributions

For section 110D of the Superannuation Act 1976, the table in subsection 110C(1) of that Act has effect, for the financial year starting on 1 July 2020, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table

Fortnightly rate of salary   Fortnightly productivity

contribution

Less than $2,488.67   $74.66

$2,488.67 or more but less than    The amount that is 3% of the

$4,009.33   employee’s fortnightly rate of

salary

$4,009.33 or more but less than   $120.28

$6,014.00

$6,014.00 or more   The amount that is 2% of the

employee’s fortnightly rate of

salary