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You can register with the self-employed contractor scheme by downloading and completing
a
Self-Employed Contractor Registration Application and posting it
to Construction Benefit Services. Registration applications must be accompanied
with documentary evidence that you are performing work as a self-employed contractor
in the construction industry.
Once registered, an invoice will be sent to you every 2 months. If you pay all 6
contribution periods during the year, you will be credited with 260 days service
(which is one year in the scheme). After 2600 days or 10 years, you can take long
service leave.
The current contribution amount is $
every 2 months (effective
). Once
paid, you will be credited with the maximum days service a full time worker
would receive for the same period.
Construction Benefit Services sets the contribution amount and an interest rate
before the commencement of each financial year. Interest is calculated daily and
credited quarterly. Members are assured the interest rate will never be
negative, even if the Fund sustains a negative return in a year., so you can choose to not pay for a contribution period,
however no service credits accrue for these periods.
Invoices cannot be paid any later than 6 months after their issue
date. They may be paid in advance but only to the end of the current financial year.
Payment in arrears may be accepted in certain circumstances upon written request
to CBS. If contributions are not received for 3 continuous invoice periods, it will
be assumed you no longer wish to contribute to the scheme and further invoices will
only be issued if requested.
You can withdraw your contributions from the scheme if you cease
working in the construction industry.
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