Superannuation – What is it?

Super, or superannuation, is important because the more you save, the more money you will have in retirement. Super is a long-term investment which grows over time.

For most people, super begins when you start work and your employer starts paying a percentage of your salary or wages into a super fund account for you.

Your super fund invests and manages this money for you until you retire.

If you’re 18 or older and you earn $450 or more (before tax) in a calendar month, your employer must make superannuation contributions on your behalf.

If you’re under 18 and you earn $450 or more (before tax) in a calendar month and you work more than 30 hours in a week, your employer must also make superannuation contributions on your behalf.

For more information, click here

Superannuation Standard Choice Form

Use this form to advise an employer of your choice of super fund.
You must provide the required information so your employer can make contributions to your nominated super fund.

You can complete this form online here

 

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MBAS and MBAS+ are services offered by Master Builders Association of New South Wales Pty Ltd, ABN 11 074 397 532 (Master Builders) which is
the Apprenticeship Services arm of Master Builders Association of New South Wales, ABN 96 550 042 906

© 2021 by Master Builders Association (NSW)

Definitions

This document outlines the direct debit arrangements between Master Builders Association of NSW Pty Ltd, ABN 11 074 397 532 (MBANSW) and you.

MBANSW is the registered Group Training Organisation and Apprenticeship Services arm of Master Builders Association of New South Wales, ABN 96 550 042 906 (Master Builders)

“You”, “your” and “Training Employer” refer to you, your company and business nominated in the table below.

This document outlines the direct debit arrangements between MBANSW and you.

Direct Debit Terms and Conditions

  • Your nominated account or credit card will be debited weekly for hosting a MBAS or MBAS+ apprentice or trainee.
  • The first debit to your account will occur within 7 working days of the MBAS or MBAS+ apprentice or trainee commencing their placement with your business.
  • If an invoice payment is due on a non-business day, it will be debited from your account on the following business day.
  • Training Employer account information held by MBANSW will be kept confidential. Please note that some information is provided to the MBANSW financial institution to initiate the debit to your nominated account.
  • MBANSW will give you a minimum of 14 days’ notice in writing of changes to these Terms and Conditions.
  • If you wish to make changes to this arrangement, please contact MBANSW on (02) 8586 3533.

Your responsibility in this arrangement

  • Ensure that your nominated account can accept direct debits (your financial institution can confirm this).
  • Ensure there are sufficient cleared funds in the nominated account on the drawing date.
  • Advise MBANSW in writing if the nominated account is transferred or closed.


Please note that if your payment is dishonoured by your financial institution, a re-draw will take place within 7 days.

Any transaction fees payable by MBANSW in respect to a dishonoured payment will be added to your account.

Enquiries

Please direct all enquiries to MBAS (02) 8586 3533 or [email protected];

Please include your phone and email address.

I/We authorise MBANSW to arrange for funds to be debited from my/our nominated account at the financial institution identified below.

This authority to direct debit will remain in place in accordance with these Terms and Conditions.