Superannuation Update Tool - Update Details Process

When you decide to update the selected details, the Superannuation Update Tool does the following for each Employee Super Funds record that requires updating.

1. Identifies the first non-closed pay period (Period PTD) with a Payment date on or after the Application Date.
2. Identifies the employee's 'current' Employee Super Funds record.
   1. If the Start date of the 'current' Employee Super Funds record is within the date range of the pay period identified in Step 1, the tool simply updates the SG/Award - Employer (%) field with the new value.
   2. If the Start date of the 'current' Employee Super Funds record is before the Date from of the pay period identified in Step 1 or blank, the tool:
      • Enters an End date that is one day before that Date from value.
      • Models the 'current' Employee Super Funds record to create a new record that has a Start date equal to the Application Date, and contains the updated SG/Award - Employer (%) value.
      • Creates a new record in Employee Notes.

Example

This example is based on the following values:

• Superannuation Update Tool has Current SG/Award Employer (%) Contribution = 9.25, New SG/Award Employer (%) Contribution = 9.5, and Application Date = 01/07/2014.
• First non-closed pay period (Period PTD) identified in Step 1 has Date from = 01/07/2014, Date to = 07/07/2014, and Payment date = 05/07/2014.
• 'Current' Employee Super Funds record has Start date = 15/01/2010 and End date = Blank.

When you update details, the Superannuation Update Tool does the following:

1. In the 'current' Employee Super Funds record, the tool enters End date = 30/06/2014.

   

2. Models the 'current' Employee Super Funds record and takes all current values from it (aside from any documents attached) and creates a new record with the following changes:
   • Start date = 01/07/2014
   • End date = Blank

     

   • SG/Award - Employer (%) = 9.50000.

     

Topic: 41141