Superannuation (PSS) Productivity Contribution (2020-2021) Determination 2020 (Cth)

Superannuation (PSS)

Productivity Contribution

(2020-2021) Determination 2020

I, PETER CARRIGY-RYAN, Chief Executive Officer and Delegate of Commonwealth Superannuation Corporation, pursuant to rule 4.3.3 of the PSS Rules, in the Schedule to the Deed in force under section 4 of the Superannuation Act 1990, DETERMINE as follows:

Dated                   9 June 2020

P CARRIGY-RYAN

Delegate of Commonwealth Superannuation Corporation

1. Name of Determination

This Determination is the Superannuation (PSS) Productivity Contribution (2020-2021) Determination 2020.

2          Commencement

This determination commences on 1 July 2020.     

3          Productivity Contributions

For Rule 4.3.3 of the PSS Rules, the table in Rule 4.3.2 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