Parliamentary Superannuation Act 2004
Who does this information apply to?
This information applies to serving parliamentarians covered by the superannuation arrangements under the Parliamentary Superannuation Act 2004 (2004 Act).
Who determines parliamentary salaries?
The Remuneration Tribunal determines the salary paid to serving parliamentarians. The Remuneration Tribunal is independent of the Government.
What is the salary for Parliamentarians covered by the 2004 Act?
The Remuneration Tribunal has set the parliamentary base salary at $199,040 per annum.
The standard employer contribution of 15.4% of salary is based on $199,040.
What is the salary for Parliamentarians with additional offices?
Serving parliamentarians who hold Ministerial or office holder positions receive additional salary for these positions. These additional salaries are expressed as a percentage of the parliamentary base salary.
Employer superannuation contributions of 15.4% of the additional office salary are payable.
How are parliamentarians affected by the concessional contribution cap?
The employer superannuation contributions for parliamentarians count towards the concessional contributions cap, which for 2014-15 is $30,000 for persons under age 50 and $35,000 for persons aged 50 and over.
These thresholds mean that all parliamentarians under age 50 will be affected by the concessional contributions cap. Parliamentarians aged 50 and over will be affected by the cap if their salary exceeds $227,272 (parliamentary base salary plus additional office salary).
A higher level of tax (31.5% excess concessional contributions tax, in addition to the standard 15% contributions tax) applies to superannuation contributions that exceed the concessional contributions cap.
Where can I get further information?
More information about the 2004 Act can also be found on the Department of Finance website.
Members of the House of Representatives
If you have any questions about the 2004 Act, please contact the Director, People Strategies, Department of the House of Representatives on (02) 6277 4454.
If you have any questions about the 2004 Act, please contact the Assistant Director, Human Resources Management, Department of the Senate on (02) 6277 3470 or (02) 6277 5926.
Last updated: 20 April 2016