Free Employment Termination Form by ykv17635

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									            Termination Payment Form

       Important notice about your termination payment
       Do you know that you can deposit part or all of the termination payment you receive from your employer (termination payment) into the BlueScope
       Steel Super Retained Benefits Division (RBD), as well as your super benefit? However, before you make any decision, you should seek advice
       from a licensed financial adviser in order to understand how your termination payment will be taxed. You should note that under transitional
       arrangements, different rates of tax may apply, depending on whether you take your termination payment in cash or pay it into superannuation.
       Remember, any termination payments deposited into the RBD will become preserved until at least age 55 and permanent retirement from the workforce.
       A termination payment from your employer will generally contain a component known as an employment termination payment (see below). Transitional
       arrangements apply to your employment termination payment if you were entitled, as at 9 May 2006, to a payment made on termination of employment
       specified in a written contract or other specified documentation. You should check with your employer to see whether you are entitled to a transitional
       employment termination payment. These transitional arrangements only apply to payments received by the Fund on or before 30 June 2012.
       If you are entitled to a transitional employment termination payment, you can choose to receive the payment in cash, or direct that it is paid to a
       superannuation fund. Other employment termination payments can only be taken in cash (but can then be contributed by you to the Fund, as a non-
       concessional contribution).
       Your termination payment will generally be made up of one or more of the following types of payments:
       1.      Unused annual leave – this amount has been/will be taxed by Payroll and will enter the RBD as a non-concessional contribution. Upon withdrawal,
               this amount will be tax-free.
       2.      Unused long service leave – this amount has been/will be taxed by Payroll and will enter the RBD as a non-concessional contribution. Upon
               withdrawal, this amount will be tax-free.
       3.      Redundancy/approved early retirement scheme payment – this normally consists of two parts:
               i)   a tax-free part where no tax applies to this amount, and it will enter the RBD as a non-concessional contribution. Upon withdrawal, this amount
                    will be tax-free.
               ii) an Employment Termination Payment part that usually contains one or both of the following:
                        a tax free component – no tax will be deducted on entry, and it will enter the RBD as a non-concessional contribution.
                        a taxable component – 15% tax will be deducted on entry, and it will enter the RBD as a concessional contribution. It will not be subject to
                        excess contributions tax unless your total transitional termination payments to super exceed the cap (currently $1 million).
                    Any amount withdrawn will be taxed at the same rates as currently apply to super benefits.
       How to deposit the different components of your Company termination payment into the BlueScope Steel Super
       Retained Benefits Division (RBD):
       1.      Unused annual leave/long service leave/tax free part of a redundancy amount.
                    Advise your Pay Office, by providing at least one week’s notice prior to your last day of employment, to send to BlueScope Steel Super
                    part of or all of these payments on your behalf (using the authorisation on the following page).
       2.      Employment Termination Payment
                    Your Pay Office will give you a pre-payment statement. If you are entitled to a transitional employment termination payment and you wish to
                    deposit this in the RBD, you need to complete the approved form (that your Pay Office will provide) and return it to the Pay Office within 30 days of
                    issue of the pre-payment statement. Your Pay Office will then send the appropriate forms and payment to the Fund, to be deposited into your RBD
                    account. Tax at 15% (or higher, if excess tax applies – refer to your PDS for details of tax on contributions) will be deducted from the payment.
       The personal information that you have provided on this form will be used by BlueScope Steel Super to correctly allocate the money that you have
       paid to your Retained Benefits Division account. The Fund will also use this information to verify that the personal information that it already holds is
       correct. If you have already received your benefit in cash you can still deposit it as an AVC into your RBD account. For further information please call
       SuperConnect on 1300 130 434.




   Issued by the Trustee, Total Risk Management Pty Limited (ABN 62008 644 353, AFSL 238790) for BlueScope Steel Superannuation Fund ABN 42 459 430 081.     September 2008

1 BlueScope Steel Super Termination Payment Form
       Termination Payment Form

       Information about how BlueScope Steel Super uses and discloses the personal information that you provide is contained in the Trustee’s Privacy
       Policy. To access this Policy, your personal details, or to make an enquiry about any aspect of your Fund membership, please:
            visit the website at www.bluescopesteelsuper.com.au,
            call SuperConnect on 1300 130 434,
            email a Service Representative at bstlbsr@russellsuper.com, or
            write to Enquiries & Complaints Officer, BlueScope Steel Super, Locked Bag A4010, Sydney South NSW 1235.


       Authority to deposit
       To: Human Resources/Payroll Office

       I,                                _____________________________________________________________________________________________

       Address                           _____________________________________________________________________________________________

                                        ___________________________________________________________________________ Postcode __________

       Phone no.

       Fund membership no.

       Member date of birth
                                        Day           Month          Year


       Email                             _____________________________________________________________________________________________

       hereby authorise the payment of my Company termination payment entitlements to the BlueScope Steel Super Retained Benefits Division as follows:
                                                                               All                        Nominated Amount
       Unused Annual Leave                                                                                $ _____________
       Unused Long Service Leave                                                                          $ _____________
       Tax free part of a redundancy/
       approved early retirement scheme payment                                                           $ _____________
       Transitional Employment Payment                                                                    $ ______________



       Member signature                  _________________________________________


       Date
                                        Day                 Month           Year

       Please return the completed form to Payroll.




   Issued by the Trustee, Total Risk Management Pty Limited (ABN 62008 644 353, AFSL 238790) for BlueScope Steel Superannuation Fund ABN 42 459 430 081.   September 2008

2 BlueScope Steel Super Termination Payment Form BSS_F_TermPay_V6F_0809

								
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