Fed Sec Said : - In regard to worst case scenario : Level 11
70% of LAMEs are still on defined benefit schemes and at level 11, most are long serving employees who have stayed on their original scheme. At level 11 we estimate that 90% will benefit from the taxation savings on super that puts an additional hit of 2.2% on top from the date of lodgment. Averaged over 4 years this gives 4% plus .55% total 4.55%pa. 19 members will not get the super hit thus get the bare bones 4% unless they are new employees who get 1% extras super straight up.
For my Own Curiosity ?
Are the majority of LAMEs in Div 3 because that’s where QF put the TN guys after the "merger".
Are 70% LAME really on Defined benefit?
Div 1 Super - Accumulative
Div 2 Super - Mostly Accumulative small part Defined benefit
Div 3 Super - Defined Benefit Total
Div 4 Super - Don't Know
Div 7 Super - Accumulative but salary sacrificed contributions
Anyone care to shed some light?