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PBS_AU_PAD_SA_010 - Specify funds for Public Sector

PBS_AU_PAD_SA_010 - Specify funds for Public Sector

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In this step, you specify the superannuation funds and whether they are specific Public Sector Funds.

AGES - Australia Government Employees Superannuation Trust
CSS - Commonwealth Superannuation Scheme
PSS - Public Sector Superannuation Scheme

Define Superannuation Fund Code(SFC) in view Subtype Characteristics (V_T591A).

  1. Choose New entries.
  2. Enter Country Grouping 13 for Australia.
  3. Enter Superannuation Fund Code you want to default in infotype Superannuation(IT220).
  4. Enter Start date and End date.
  5. If necessary, flag field Public Sector Fund.
  6. Specify employee minimum & maximum contribution rate for each fund.
  7. Choose Save.

Field Public Sector Fund indicates whether the fund is a Public Sector Fund or not. If not marked then it is considered as the Company fund. Example: CSS, PSS, AGES, and other approved funds are Public Sector funds. So, the employer contribution for these funds is based on the Employer Productivity Superannuation Contributions (EPSC) Rate.






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