Redundancy is a reality in business – workplaces change and positions and functions sometimes become unnecessary. But it’s a stressful time for everyone, so we want to help as much as we can.

Here are a few resources available to your employees.

  • The member redundancy section of our website has a whole heap of useful information that’ll help your employees with redundancy – make sure they’re aware of it.
  • We have a Redundancy factsheet, which you should give to employees who are facing redundancy.
  • Our Relationship Managers are a great source of knowledge and assistance. Give them a call about setting up a redundancy seminar at your workplace.
  • If you have any questions about your responsibilities, get in touch with our Employer Solutions team – they’ll be happy to help.

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You’ll need to complete an Employer Certification form and send to us.

A redundancy1 happens when a workplace change leads to an employee’s function becoming no longer necessary. It’s the chief executive who must make the decision to terminate their employment as a result. A redundancy package may include an incentive payment.

1. In accordance with directive no.04/12

A retrenchment happens when an employee's position has been made redundant and it’s been determined that it’s no longer appropriate to continue seeking to secure a permanent placement for them. An incentive payment doesn’t form part of a retrenchment payment. When calculating superannuation entitlements, we treat retrenchment and redundancy the same way.

We know redundancy is a difficult time, so we provide extra resources to help our members who are affected. If your employees would like information on their QSuper account options, and how receiving a redundancy package could affect them, here’s how you can help:

It’s the same thing. A ‘bona fide’ redundancy was the terminology previously used by the Australian Tax Office (ATO) when referring to redundancies. But the term was replaced with ‘genuine redundancy’ on 1 July 2007 after major tax reforms were also introduced.

When you hear about the possibility of MOG changes, call the Employer Help Desk and let us know. We can then ensure the smooth transition of those employees' superannuation accounts.