Complying superannuation fund
A fund that meets certain regulatory requirements. Refer to the APRA superannuation fund website for a list of complying superannuation funds.
Executive
A person to whom the PEER Policy applies. See section 4.2-4.4 of the PEER Policy.
Employer
The CEO or Board of a public entity, except where establishing legislation provides otherwise.
Employment contract
An employment contract for an executive is the individual employment contract.
Expenses (work related)
Expenses incurred from time to time in the course of authorised duties.
General government agency
Defined in Chapter 4 of the Financial Report for the State of Victoria.
Maximum contribution base
This is a quarterly notion of salary for purposes of the superannuation guarantee (SG) legislation.
An employer only needs to pay SG contributions on salary up to this amount each quarter.
Public entity
Defined under Part 1, Section 5 of the PAA, noting the exceptions indicated in Section 1.2 in relation to the application of this Handbook.
Total Remuneration Package (TRP)
The basis of remunerating executives in the public sector and includes base salary, employer’s superannuation contribution, other employment benefits and any applicable fringe benefits tax.