From 1 July 2021, superannuation will increase by half a per cent to 10 per cent. Following this increase, the superannuation guarantee is legislated to rise by half a per cent each year until it reaches 12 per cent by 2025.

In addition to increasing the employer superannuation contribution, employers are required to pay a worker’s superannuation into their existing super fund (if they do not nominate a preferred super fund).

To ensure businesses are compliant with these changes, we’ve updated HRA Cloud (HR Assured’s software) with new templates. HR Assured’s clients can now access these templates when they log into the platform and include:

  • Employment Agreement – Casual – Award Covered – Contract.
  • Employment Agreement – Casual – Non-Award Covered – Contract.
  • Employment Agreement – Full-Time – Award Covered – Contract.
  • Employment Agreement – Full-Time – Award Covered – Maximum Term – Contract.
  • Employment Agreement – Full-Time – Non-Award Covered – Fixed Term – Contract.
  • Employment Agreement – Part-Time – Award Covered – Contract.
  • Employment Agreement Part-Time –Award Covered – Maximum Term.
  • Employment Agreement Part-Time – Non-Award – Maximum Term.
  • Employment Agreement Part-Time – Non-Award Covered.
  • Employment Agreement Part-Time – Award Non-Covered.

While it’s important to ensure you issue all new employees with the updated contracts of employment available within the platform, it is not necessary that you issue new contracts to your existing employees.

Additional resources

The team at HR Assured has written a detailed article on the changes to superannuation which you can read here.

In addition, many businesses can absorb the increase to superannuation in relation to those employees who are paid a Total Remuneration Salary (TRP). To assist businesses who wish to absorb this increase within an employee’s TRP, we have created a template notification letter labelled Superannuation Increase Letter. This letter is available to HR Assured’s clients and can be found inside the platform.

And lastly, we recently covered the superannuation changes in a webinar which you can watch on-demand right here.

Don’t forget that we’re here to support you, so please reach out to us if you have any questions or concerns about this information.

For HR Assured clients, contact our 24/7 Telephone Advisory Service.

Not an HR Assured client and need some advice? The team at HR Assured can support your business on a range of workplace matters. Contact us today to arrange a confidential, no-obligation chat.