What’s the on the screen?
My Contribution Tab:
This will show you your Active Contributions and history, allow you to add a contribution for a fund you’ve nominated through ‘My Super Fund’ Tab.
My Active Contributions
This section shows all contributions that are currently active. Once they are end-dated, they will move to History section.
This section shows contributions that are no longer active. This is useful to understand where you’ve contributed to in the past.
Contribution - This is the type of contribution you are making:
- SGC: Superannuation Guarantee Contribution - this is the compulsory employer funded superannuation that a company pays on behalf of an employee to their fund. This is initially set up during the onboarding process. Currently this is mandated at 9.5% of superable income. Note: you can only have one SGC fund at any one time.
- Employer Additional: This is an employer contribution made on employee’s behalf and could be in place of or in addition to the Superannuation Guarantee Contribution (SGC). It can be set at a percentage of superable income of fixed amount. If the employee has no SGC fund this must be a minimum of 9.5% or value more than 9.5%.
- Employer Additional Secondary: If the employer is contributing to Employer Additional fund but wants to also contribute to a different fund for another amount, they can do this through this election. You will not be able to save Employer Additional Secondary if you do not have an Employer Additional Fund.
- Salary Sacrifice: This is an employee (voluntary) funded contribution which reduces the taxable income of the employee.
- Salary Sacrifice Secondary: If an employee wishes to contribute voluntarily to two different funds pre-tax they can do this via a combination of Salary Sacrifice + Salary Sacrifice Secondary. You cannot have a Salary Sacrifice Secondary without a Salary Sacrifice contribution first though.
- Employee Post Tax: This is where an employee might want to contribute to superannuation and not reduce their taxable income.
- Employee Post Tax Secondary: If an employee wishes to contribute voluntarily to two different funds post-tax they can do this via a combination of Employee Post Tax + Employee Post Tax Secondary.
This is the Name of the Superannuation Fund Selected by the employee.
This is when the superannuation contribution started. This is typically the employee hire date if it’s their first record, or your go-live date if they’ve transitioned to Flare Pay from another system whilst in employment.
If you change a contribution:
Flare Pay Customers: This will default to the beginning of your current pay period, you cannot change superannuation funds or contributions in arrears
Flare HR Customers without Flare Pay: This will default to the day you created the record.
This will be blank if a contribution is current with no end date specified this will be blank. If you change a fund or cease a contribution this will be the date you specify, however that cannot be earlier than today’s date.
This is the method by which your superannuation is calculated - this is % of earnings or fixed amount.
If your Calc Type is percentage, the percentage of superable earnings is listed here.
If your Calc Type is Amount, the Amount per pay period is determined here.
This determines if the super fund concerned is still in active use by the employee.
Date a transaction was updated.
My Super Fund
This tab shows all funds set up for the employee.
The employee can view, add new funds to then create contributions from and add or amend their membership numbers.
This is the name of the Superannuation Fund
This is the legal name held by the Superannuation Fund
This is the Australian Business Number held by the Superannuation Fund
This is the Unique Superannuation Identifier number, it identifies where funds are distributed to through Super Stream reporting and remittance.
This is the member number held by the employee, the way to identify their contributions by the superannuation fund.
This is whether the fund is currently being contributed to by your employee or not.