26. Superannuation
The University will maintain the current employer contributions and
arrangements for superannuation that were in effect as at 22 November
2005, including UniSuper as the required recipient fund, except that:
(a) the University may exercise its options under the Deed of
Covenant for the 5% flexibility in coverage and contribution level;
(b) eligible staff members will be entitled to 9% employer
contribution to the Accumulation 1 in accordance with existing
University policy. These contributions will be consistent with Division
D of the UniSuper Trust Deed;
(c) subject to paragraph (d) below, fixed-term research-only staff
with at least 12 months' continuous service will be eligible to apply
for membership of UniSuper Defined Benefit Division/Accumulation 2 on
the same basis as continuing staff subject to the University being
satisfied that full and adequate provision is included in the funding
arrangements for the position such that the full employer contribution
can be met from other than recurrent funds of the University;
(d) fixed-term research-only staff who, following the Operative
Date, have reached the years of continuous service shown in the table
below, will be eligible to apply for membership of UniSuper Defined
Benefit Division/Accumulation 2 on the same basis as continuing staff
without the requirement for full and adequate provision from other than
recurrent funds:
Table G
| Date or period as described |
Years of continuous service to qualify |
| Operative Date of this Agreement |
10 or more years' continuous service |
| Period up to 12 months from Operative Date |
Upon reaching 10 years' continuous service |
| Period 12 months and up to 24 months from Operative Date |
Upon reaching 9 years' continuous service |
| Period 24 months and up to 36 months from Operative Date |
Upon reaching 8 years' continuous service |
| Period 36 months and up to 48 months from Operative Date |
Upon reaching 7 years' continuous service |
| Period 48 months and up to 60 months from Operative Date |
Upon reaching 6 years' continuous service |
| Period 60 months and over from Operative Date |
Upon reaching 5 years' continuous service |
|
