Mercy Super - Always for you

Contributory Accumulation Accounts and Defined Benefit

 

The Fund is a hybrid superannuation fund that provides, to applicable members, both Accumulation and Defined Benefit member accounts. Eligible members can receive additional employer support by providing a regular contribution to their account.

Please note: the Defined Benefit category is currently closed to new members.

 

Eligible members of the Defined Benefit and Contributory Accumulation Categories can nominate the percentage rate of their personal contributions. From time to time, the member can choose to alter their contribution rate. The percentages available (and the corresponding employer support) are shown in the table* below:

 

 

Member Standard Contribution	Employer Contribution
2%	9.75%
3%	10.75%
4%	11.75%
5%	12.75%

 

* The above contribution table does not apply to some organisations and we suggest you speak with your employer about the rate of contribution that applies to your workplace.

 

Please note,  the Member Standard Contribution for Defined Benefit Salary Sacrifice members will be slightly higher to allow for the Contributions Tax.

 

Salary Sacrifice your Contributions

 

These are contributions that are taken from your salary on a pre-tax basis. It will allow you to avoid having your marginal taxation rate applied to your regular contributions to your account. However, salary sacrifice contributions will incur the superannuation taxes as legislated by the Federal Government. The Fund's Trust Deed has the provision to receive Salary Sacrifice contributions, contact the Fund to see if you are eligible.

 

Award and SG Accounts

 

This Category of membership is open to you if you are employed for less than three months, work less than 10 hours per week or on a Casual basis, and if you are an employee of one of the Fund's Associated Employers  that is not eligible to provide employees with the option of joining the Contributory Accumulation category.