HOW DO I…change my Defined Benefit contribution rate?
Things to know before you start:
- There are different rules and contribution rates, depending on which Defined Benefit division you belong to. You can generally only contribute while you are considered an in-service member, i.e. you are still working for the Commonwealth Bank Group.
- There are caps, or limits, on the amount that can be contributed to super without incurring additional tax. After-tax contributions are included as non-concessional contributions for the purposes of the caps. It is your responsibility to ensure that you do not breach the caps if you want to avoid paying excess tax.
- Tax does not generally apply to these contributions if made within the contributions caps.
Complete the form that applies to your Defined Benefit division: