Employer Online Access
The WA Local Super online service will help employers fulfill their superannuation obligations quickly, easily and at their convenience (subject of course to deadlines for payment).
What can employers do online?
- Lodge contribution details
- View current and previous contribution advice
- Update contact details
- View a list of your current members and update phone or email details
- Add new members. (you still need to send us the signed application form)
- Advise us of terminated members
- Use the calculators for estimating retirement benefit and contributions
- Access forms and publications
How do I register?
Simply attach a written request (signed by an authorised signatory of your employer) to an email and send it to info@walgsp.com.au with the words "Employer Online" in the subject field.
Click here for some tips and traps on using the Employer Online Service
Changes to the Local Government Act 1995 - Local Government (Amendment of Part VIA - Employee Superannuation) Regulations 2006
Changes to the Local Government (Amendment of Part VIA - Employee Superannuation) Regulations 2006 providing for choice of fund for Local Government Employees came into effect on 1st July 2006.
A copy of the amendment is available here (PDF 462KB)
The following guidelines are provided in an attempt to assist employers to implement this change and for employees to also understand their options.
Eligible employees have choice from 1st July 2006 only for the 9% Statutory Guarantee (SG) component of employers superannuation obligation and for personal post tax contributions (also known as non-concessional contributions). Salary sacrificed contributions or employer contributions over and above the 9% SG must be paid to WA Local Government Superannuation Plan in accordance with the Local Government Act provisions and the Plan Trust Deed.
What do Employers need to do?
The first task is to establish which employees are eligible for choice. Not everyone is eligible to choose a superannuation fund - it generally depends on the type of award or industrial agreement under which employees are employed. (Please consult the Australian Tax Office (ATO) fact sheet “Choice of Super Fund” reference NAT13592-04.2006.)
Once employers have established who is eligible they need to provide a “Standard Choice Form” within 28 days to:
- Existing employees: To existing employees only if they ask for one in writing and only one request may be made every twelve (12) months.
- New employees: To new employees starting work from 1st July 2006 (assuming the legislation is passed).
- Other: To an employee if an employer becomes aware that they are unable to contribute to an employee’s chosen fund or that it is no longer a complying fund.
The current legislative amendment provides for the WA Local Government Superannuation Plan (WALGSP) to be established as the default fund, so employees who don’t choose will automatically become a member of WALGSP. To assist in implementation of this process we have attached a completed choice form which you are at liberty to use, click here to get a copy.
The following three scenarios will attempt to explain the impact the change in regulations has in each case.
- An employer contributes 9% SG plus 5% matching contribution if the employee contributes 5%.
Choice of fund applies only to the 9% SG the other 10% must be paid to WALGSP.
- The employer contributes 9% SG plus no matching component but the employee salary sacrifices 5%.
Choice of fund applies to the 9% SG but the 5% salary sacrifice becomes an employer contribution and must be paid to WALGSP.
- An employer contributes 9% SG and the employee pays 5% post tax as a personal contribution i.e. there is no employer contribution.
Choice of fund applies to both the 9% SG and the 5% post tax personal contribution from the employee.
Important questions to ask when choosing a superannuation fund.
WA Local Government Superannuation Plan stacks up well against other superannuation funds in terms of long term performance and the benefits that are offered to members.
What does the WA Local Government Plan offer you?
Whilst the fund meets all of the legal requirements for choice of superannuation fund there are many other benefits that the fund offers.
- Impressive long term returns
- Competitive fees and charges
- All profits go back to members
- Financial advice to ensure that you are getting the most out of your super
- Attendance at wealth creation and pre-retirement planning seminars to assist you in better understanding the concepts of superannuation, wealth creation and preparing you for your retirement;
- Individual member services consultant to give you personal advice
- Education through seminars newsletters and web access;
- A wide range of flexible insurance options to suit your needs;
- Competitive pension products and continued support after you retire;
- Access to one of the cheapest home loans in Australia throughout alliance partner Members Equity Bank;
- Access to estate planning;
- Member services consultants personally visit your employer to offer you personal service;
The WA Local Government Superannuation Plans is the owner of a Financial Services Group called WA Local Financial Services which in turn has an alliance agreement with a group called FuturePlus Financial Services which has over $7 billion in funds under management and more than 130,000 members. The WA Local Financial Services Group provides;
- Investment management;
- Superannuation Administration;
- Member Services;
- Financial Planning;
- Retirement Planning;
- Product design and development;
- Marketing and communication;
- Compliance services; and
- Wide range of competitive investment options;
Our size and scale in association with FuturePlus enable us to negotiate better fees for our suppliers and to offer you a broad range of experienced resources in a wide range of services.
Even better still because WA Local Financial Services is owned by the WA Local Government Superannuation Plan the profits flow back to you as members.
Have more questions?
Check out our FAQ's or contact our friendly staff for assistance on 08 9480 3500 or country callers 1800 630 524 should you require further information.
Surcharge tax abolished
From 1 July 2005, the Superannuation Surcharge was abolished. This was an additional tax on contributions and Employer Eligible Termination Payments that applied if your income was between $99,710 and $121,075 for the 2004/05 financial year.
Any Surcharge liabilities that accrued prior to 1 July 2005 will still be payable. And you may continue to see reference to the Surcharge on your Annual and Mid Year Statements. This is because the Tax Office issues Surcharge liabilities in arrears.
For further information about the Surcharge, visit the ATO's web site at www.ato.gov.au and click on Superannuation Contributions Surcharge Link. Visit Site.
Growing your super is even easier
Most of us want to know how we can make money quickly and easily. With your super, there are several ways you can give your account balance a helping hand. You can:
- make additional contributions
- invest your super in growth oriented investment options; and
- merge your different super accounts into one (see our article on Portability).
Seeing double? Check out the Government's Co-Contribution scheme!
What you may not have realised is that by making additional after tax contributions, you can nearly double the money you invest without lifting a finger. Under the Government's Co-Contribution Scheme, for every $1.00 you invest, the Government will put in another $1.50 up to a maximum of $1,500 a year.
Check out the details on the Super Co-contribution page.
New portability rules can help reduce fees
If you've had more than one job, you probably have more than one super fund. Numerous accounts mean multiple fees and that's a super "no-no".
Cutting back on the number of accounts you have can save you money, reduce your paperwork and give you more control over your retirement savings. You'll probably also be pleasantly surprised at how much your combined super adds up to!
With the introduction of new legislation from 1 July 2005, you can now roll your other accounts into the Plan at any time. At one time, a fund could refuse to transfer to transfer your money if an employer contribution had not been received on your behalf within the previous 6 months.
You may not always be able to transfer your money
A fund may refuse to transfer your super if any of the following conditions apply:
- the fund you have nominated for the transfer will not accept the money;
- the transfer would result in your account balance being less than $5,000*; or
- the Trustee has transferred an amount from your benefit in the past 12 months.
* the fund can insist you take the full benefit if your account balance would then be less than $5,000
If you'd like to transfer other super into the Plan, you can do so at any time, by completing a Transfer in Authority Form. While we don't charge any fees for this service, please check that your other funds won't charge you fees for leaving. You should also confirm whether you'll lose any insurance arrangements before closing your other super accounts.
Super choice
You've probably seen all the advertising regarding Super Choice, which became effective from 1 July 2005. Super Choice allows you to choose the fund into which you want your employer's contributions and any existing account balance to be invested. But, not everyone is eligible for Choice.
Who doesn't have choice?
Generally, most Australians will be able to choose their preferred super fund. Those currently not eligible include employees covered under state legislation, employees whose contributions are made in accordance with a State Award or Australian Workplace Agreement and government employees of unfunded super schemes. This means that your employer's contributions will continue to be paid into your current super fund. Check with your employer if you're unsure.
We will keep you up-to-date on any changes with these rules.
