Establishment—recurrent expenditure (superannuation employer contributions) (financial year), total Australian currency N[N(8)]
Identifying and definitional attributes
|Metadata item type:||Data Element|
|Short name:||Recurrent expenditure—superannuation employer contributions|
Contributions paid in Australian dollars or (for an emerging cost scheme) that should be paid (as determined by an actuary) on behalf of establishment employees either by the establishment or a central administration such as a state health authority, to a superannuation fund providing retirement and related benefits to establishment employees, for a financial year.
|Data Element Concept:||Establishment—recurrent expenditure (superannuation employer contributions)|
Value domain attributes
|Maximum character length:||9|
|Unit of measure:||Australian currency (AU$)|
Data element attributes
Collection and usage attributes
|Guide for use:|
Record as currency up to hundreds of millions of dollars. Rounded to nearest whole dollar.
The definition specifically excludes employee superannuation contributions (not a cost to the establishment) and superannuation final benefit payments.
In private enterprise some superannuation schemes are partially funded but this is considered too complex a distinction for national minimum data sets.
It is noted that the emergence of salary sacrifice schemes allows employees to forego salary for higher superannuation contributions. If these become significant, national minimum data sets may have to take them into account at a future stage.
The following different funding bases are identified:
Fully funded schemes are those in which employer and employee contributions are paid into an invested fund. Benefits are paid from the fund. Most private sector schemes are fully funded.
Emerging cost schemes are those in which the cost of benefits is met at the time a benefit becomes payable; that is, there is no ongoing invested fund from which benefits are paid. The Commonwealth superannuation fund is an example of this type of scheme as employee benefits are paid out of general revenue.
Source and reference attributes
Australian Institute of Health and Welfare
|Related metadata references:|
Supersedes Establishment—recurrent expenditure (superannuation employer contributions) (financial year), total Australian currency N[N(8)]
|Implementation in Data Set Specifications:|
All attributes +
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