When an Employee Makes Regular Contributions Equal to 7% of Their

question 17

Multiple Choice

When an employee makes regular contributions equal to 7% of their salary and their employer also contributes the equivalent of 14% of salary to a superannuation fund that is an accumulation scheme:

• A) the final payout benefit is stated when the member joins the fund.
• B) the final payout depends upon the investment performance of the fund.
• C) payment is specified under the superannuation guarantee legislation.
• D) the benefit is paid in the form of a life annuity.

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Definitions:

Delegate

To assign responsibility or authority from one person to another, often from a superior to a subordinate.

Routine Tasks

Predictable and repetitive activities that are essential to daily operations but require minimal decision-making.

Discretion

The quality of behaving or speaking in such a way as to avoid causing offense or revealing private information; the ability to make responsible decisions.

Participative Leadership

A leadership style that involves seeking input and involving team members in decision-making processes.