Get ‘Super’ Saavy!
Employer contributions (Superannuation Guarantee)
Sodexo is required to pay contributions into a superannuation fund for all employees. The level of contribution is specified in legislation and is a fixed percentage of your ordinary earnings. Employees can select the Company’s default super fund (to take advantage of corporate benefits) or may choose to nominate their own fund.
Employee contributions (Voluntary contributions)
In addition to employer contributions employees may elect to personally contribute to superannuation.
Employees can add to super and make voluntary contributions through payroll deductions, this can be done in two ways; Make Salary sacrifice contributions from before-tax salary or Make personal contributions from after tax salary.
To make personal contributions to Super, please complete the Voluntary Super Contribution Form.
What choice is right for me?
The Australian Government has a Super Contributions Optimiser to help individuals work out which type of super contributions (pre-tax or post-tax) will give their super the biggest boost. Click here for the calculator.
Know the limits (Contribution Cap)
The Government limits the amount employees can contribute to Super. If they go over the limits, they may pay extra tax. This limit is called Contribution Cap. Sodexo encourages employees to seek guidance to understand limits. For more Information employees can contact their nominated Super Fund or visit the ATO website.
Maximising Super Benefits with Hostplus
Employees can maximise their super in a few simple ways.
Investment
Super investment isn’t one-size-fits-all. It’s personal. We all have unique retirement goals, lifestyle expectations and commitments. Super funds offer different categories of investing which allows employees to mix and match to customise super for them. If they would prefer to leave all the investment decisions up to the super fund, then Sodexo’s default investment option would be best.
The Australian Government has a calculator to help individuals choose the right investment option. Click here to learn more.
Insurance
It’s smart to be prepared for life’s unexpected risks, like loss or interruption of income, serious injury or death. The good news is that Super funds have flexible and affordable insurance options that provide a safety net to our employees.
Sodexo’s default super fund provides access to three main types of insurance cover:
- Life insurance (or death benefit) cover
- Total and permanent disability insurance (TPD)
- Income protection (or salary continuance) insurance
The Australian government has a calculator to help individuals work out the right level of cover needed. Click here to learn more.
First Home Super Saver
Employees who make eligible voluntary contributions into their super account, up to the maximum limit may be able to use them to buy their first home. For more information click here or contact your super fund.
Complete a Voluntary Super Contribution Form to make before-tax or after-tax voluntary contributions to your super fund for the purpose of FHSSS.
360Health
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Access to this service is designed to provide targeted health and wellbeing advice, but it shouldn’t replace your GP.
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