Are you aware that there are specific superannuation rules for employees who are 70 years old or more?

• Up until recently, superannuation payments were NOT compulsory for employees over 70
• ALL employees are now entitled to superannuation, despite their age
• All superannuation must be paid into an exsisting super fund (not directly to an employee)
• If their super fund has been closed, a new fund must be opened

If your employee is 65 years old or over, and meets the required work tests, then other contributions can also be made. For example, salary sacrifice into superannuation and employee contributions.

If your employee is 75 years old or over, only mandatory super can be paid and no other contributions can be made.

If you have any further questions, or if we can be of any further assistance, please contact us on 0417 150 555 or via our Facebook Page