Employer Update October 2016

info card

Superannuation guarantee (SG) contributions for 1 July – 30 September are due by Friday 28 October 2016. For those using the clearing house, please keep in mind there is a three day processing timeframe.

info card Superannuation guarantee (SG) contributions for 1 July – 30 September are due by Friday 28 October 2016. For those using the clearing house, please keep in mind there is a three day processing timeframe.


  • Our performance highlights 2015/16
  • A message from our CEO on 2015/16 and our plans for the future 
  • 2015/16 Investment Performance update and VicSuper’s economic outlook for 2016/2017
  • Cut to concessional contribution cap – proposed budget changes
  • SuperStream compliance cut-off date for small business – 31 October 2016
  • Employer super resource guide 2016/17



  • Our performance highlights 2015/16
  • A message from our CEO on 2015/16 and our plans for the future 
  • 2015/16 Investment Performance update and VicSuper’s economic outlook for 2016/2017
  • Cut to concessional contribution cap – proposed budget changes
  • SuperStream compliance cut-off date for small business – 31 October 2016
  • Employer super resource guide 2016/17

  • Performance highlights 2015/16
    Performance highlights 2015/16

    Over the past year, we grew the fund by $1.02 billion to reach a total of $16.4 billion funds under management. Our aim is to continue growing the size and scale of our Fund and we’ve set ourselves a goal of reaching $30 billion in funds under management by 2020.

         
    16.36 billion*
    in funds under management 
    Focused on building
    performance

    against our long-term
    investment objectives 
    Best fund
    longevity product

    awarded by Chant West for our new
    Guaranteed Income products**
         
    94% of team members
    surveyed said they are
    proud to work for VicSuper 
    239,500+
    or one in 12 working
    Victorians are members
    of our Fund
     

    22,000+
    actively contributing
    employers 
         
    6,800+
    face-to-face advice
    appointments
    ~11,000
    women have participated in
    the Super Woman Money
    Program since 2012 
    1,400+
    engagements undertaken with companies
    we invest in, on their environmental,
    social and governance performance  
         

    Over the past year, we grew the fund by $1.02 billion to reach a total of $16.4 billion funds under management. Our aim is to continue growing the size and scale of our Fund and we’ve set ourselves a goal of reaching $30 billion in funds under management by 2020.

     
    16.36 billion
    in funds under management 
     
    Focused on building
    performance

    against our long-term
    investment objectives 
     
    Best fund
    longevity product

    awarded by Chant West for our new
    Guaranteed Income products* 
     
    94% of team members
    surveyed said they are
    proud to work for VicSuper 
     
    239,500+
    or one in 12 working
    Victorians are members
    of our Fund
     
    22,000+
    actively contributing
    employers 
     
    6,800+
    face-to-face advice
    appointments
     
    ~11,000
    women have participated in
    the Super Woman Money
    Program since 2012 
     
    1,400+
    engagements undertaken with companies
    we invest in, on their environmental,
    social and governance performance  
     

latest newsSuper news

Cut to concessional contribution cap – proposed budget changes

From 1 July 2017, the superannuation contribution cap for concessional (before tax) contributions has been proposed to be reduced to $25,000 from the current cap of $35,000 for over 50s and $30,000 for under 50s. The proposed cap of $25,000 will apply to all ages. The cut to the concessional cap, effective from 1 July 2017, is subject to legislation being passed. The current $35,000 and $30,000 concessional caps still apply for the 2016/17 financial year.

A concessional contribution is a before-tax super contribution, including an employer’s SG contribution and a salary sacrificed super contribution. For the self-employed, a concessional contribution is a tax-deductible super contribution.

SuperStream compliance cut-off date for small business

If you are currently sending superannuation contributions via paper or still paying by cheque after Monday 31 October you may be in breach of your SuperStream obligations and may be subject to penalties from the ATO. If you require further information call VicSuper on 1300 878 737, we’re here to help.

Super news

Cut to concessional contributions cap – proposed budget changes

From 1 July 2017, the superannuation contribution cap for concessional (before tax) contributions has been proposed to be reduced to $25,000 from the current cap of $35,000 for over 50s and $30,000 for under 50s. The proposed cap of $25,000 will apply to all ages. The cut to the concessional cap, effective from 1 July 2017, is subject to legislation being passed. The current $35,000 and $30,000 concessional caps still apply for the 2016/17 financial year.

A concessional contribution is a before-tax super contribution, including an employer’s SG contribution and a salary sacrificed super contribution. For the self-employed, a concessional contribution is a tax-deductible super contribution.

SuperStream compliance cut-off date for small business

If you are currently sending superannuation contributions via paper or still paying by cheque after Monday 31 October you may be in breach of your SuperStream obligations and may be subject to penalties from the ATO. If you require further information call VicSuper on 1300 878 737, we’re here to help.

preparing for retirementSuper resources

Employer super resource guide 2016/17

This helpful reference guide provides you with details on your super obligations for 2016/17 including: cut-off dates for SG payments, how to calculate SG payments, choice of superannuation fund requirements for eligible new staff, payslip reporting requirements and much more.

Download now

Get Super Active workshops

We can offer you a 20 minute super workshop at your next team meeting with your VicSuper representative. Our super workshops are an engaging and highly interactive way for your employees to Get Super Active and have their super questions answered.

Book now

Super resources

Employer super resource guide 2016/17

This helpful reference guide provides you with details on your super obligations for 2016/17 including: cut-off dates for SG payments, how to calculate SG payments, choice of superannuation fund requirements for eligible new staff, payslip reporting requirements and much more.

Download now


Get Super Active workshops

We can offer you a 20 minute super workshop at your next team meeting with your VicSuper representative. Our super workshops are an engaging and highly interactive way for your employees to Get Super Active and have their super questions answered.

Book now

Important dates and information
Important dates and information

SuperStream support
Deadlines and important SuperStream information. Read more

Quarterly due dates for superannuation guarantee
Don’t forget SG contributions for 1 July – 30 September are due by Friday 28 October 2016. For those using the clearing house, please keep in mind there is a three day processing timeframe.

SuperStream support
Deadlines and important SuperStream information. Read more

Quarterly due dates for superannuation guarantee
Don’t forget SG contributions for 1 July – 30 September are due by Friday 28 October 2016. For those using the clearing house, please keep in mind there is a three day processing timeframe.

*Funds under Management (FUM) differs from investment by $28 million, as investment open trade receivables and payables are included in the FUM amount.
**VicSuper relies on Challenger Life Company, under life policies issues to VicSuper by Challenger, to fund payments to members who select these products. VicSuper does not itself provide a guarantee.

This Employer Update is given in good faith and has been derived from sources believed to be reliable and accurate. No warranty as to the accuracy or completeness of this information is given and no responsibility is accepted by VicSuper Pty Ltd or its employees for any loss or damage arising from reliance on the information provided. This update does not take into account your financial situation, objectives or needs or those of your employees. VicSuper recommends you or your employees seek professional advice for your own circumstances and obtain a copy of the VicSuper FutureSaver Product Disclosure Statement. You can contact VicSuper to make an appointment to see one of our VicSuper representatives.

VicSuper Pty Ltd ABN 69 087 619 412 ("VicSuper") is the Trustee of VicSuper Fund ABN 85 977 964 496. The Trustee holds an Australian Financial Services Licence (AFSL 237333) under the Corporations Act 2001 (Cwlth) and a RSE Licence under the Superannuation Industry (Supervision) Act 1993 (Cwlth). Under its AFSL, VicSuper is licensed to deal in, and provide financial product advice on superannuation products. At present, VicSuper representatives are limited to providing financial product advice on VicSuper products; ESSSuper - Revised, New, SERB and Transport Schemes; providing advice on whether a member should consolidate or roll over their superannuation holdings (excluding personal advice on self-managed superannuation funds) into VicSuper; and general superannuation matters.
*Funds under Management (FUM) differs from investment by $28 million, as investment open trade receivables and payables are included in the FUM amount.
**VicSuper relies on Challenger Life Company, under life policies issues to VicSuper by Challenger, to fund payments to members who select these products. VicSuper does not itself provide a guarantee.

This Employer Update is given in good faith and has been derived from sources believed to be reliable and accurate. No warranty as to the accuracy or completeness of this information is given and no responsibility is accepted by VicSuper Pty Ltd or its employees for any loss or damage arising from reliance on the information provided. This update does not take into account your financial situation, objectives or needs or those of your employees. VicSuper recommends you or your employees seek professional advice for your own circumstances and obtain a copy of the VicSuper FutureSaver Product Disclosure Statement. You can contact VicSuper to make an appointment to see one of our VicSuper representatives.

VicSuper Pty Ltd ABN 69 087 619 412 ("VicSuper") is the Trustee of VicSuper Fund ABN 85 977 964 496. The Trustee holds an Australian Financial Services Licence (AFSL 237333) under the Corporations Act 2001 (Cwlth) and a RSE Licence under the Superannuation Industry (Supervision) Act 1993 (Cwlth). Under its AFSL, VicSuper is licensed to deal in, and provide financial product advice on superannuation products. At present, VicSuper representatives are limited to providing financial product advice on VicSuper products; ESSSuper - Revised, New, SERB and Transport Schemes; providing advice on whether a member should consolidate or roll over their superannuation holdings (excluding personal advice on self-managed superannuation funds) into VicSuper; and general superannuation matters.