IHTM42968 - Employee benefit trusts: sponsored superannuation schemes: definition

A sponsored superannuation scheme is a pension scheme defined by ICTA88/S624 (IHTM17039).

It means a scheme or arrangement

• relating to service in particular offices or employments, and
• the object or one of its objects is to make provision for people serving in those offices or employments for their future retirement or partial retirement, future termination of service through death or disability, or similar matters,

The cost of making such provision must be met by the employer (or third party) and not by the employee.

It is not necessary for the provision of such benefits to be the main object of the scheme.