Monitoring and Reporting 18: Budget Planning Tool Update (4.06.06)
Posted on 11 February 2015 by Education Finance
If you have started work on your budget planning tool this week you would have downloaded the budget planning tool version 4.06.06 which includes an update to the teachers superannuation from 1st September 2015, from 16.40% to 16.48%.
The Education & Learning Team were only made aware of this last week and upon speaking to HR it was confirmed that the actual superannuation percentage for teachers as from 1st September 2015 would increase to 16.48% and not 16.40% as originally thought. Therefore, should you be using a previous version of the budget planning tool, you will need to amend the superannuation for teachers. To check which version of the budget planning tool you are using, simply click on the ‘Instructions’ tab and in cell ‘B1’ it will state the version number. If it states version ‘V4.06.06’ you will not need to do anything, but for all other versions you will need to click on the ‘Pay Scales’ tab and locate cell ‘I119’. Simply enter ‘0.45’ within this cell and you will increase the superannuation for teachers from 16.40% to 16.48% from 1st September 2015.
Should you have any queries, please contact the Education & Learning Team.
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