Employers are required to pay contributions in accordance with the constitution covering CIP. All eligible workers, whether full-time, part-time or casual are entitled to receive contributions. Contributions must be maintained for all workers once commenced whether they are on EBA sites, other commercial sites or domestic sites, including when a worker has lodged a claim under the fund. Regardless of the absence i.e.; on workcover, annual leave, leave without pay, the constitution requires weekly payments to be contributed whilst the employee is employed.
The weekly CIP Contribution Rate will increase from March 2021:
The following sets out the weekly contribution rates payable to CIP:
- From March 2021 - February 2022 contribution period - $40.30 per person, per week (including GST)
- From March 2019 - February 2021 contribution period - $39.30 per person, per week (including GST)
Major Projects - Queens Wharf Project
- From March 2021 - February 2022 contribution period - $49.00 per person, per week (including GST)
- From March 2018 - February 2021 contribution period - $48.00 per person, per week (including GST)
- Currently $19.00 per person, per week (including GST)
Major Projects - Icthys
- No change - $44.50 per person, per week (including GST)
The Construction Income Protection (CIP) Limited Board has decided, after receiving actuarial advice to increase employers' premium contribution rates and worker maximum benefits to ensure the Scheme remains the best value income protection scheme for employers and employees in the building and construction industry.
While increases are never welcome the Board is committed to provide as much tendering certainty as possible and to maintain the relevance of the benefits of the scheme for injured and sick members.
While the below amounts could be varied for unforeseen changes in the market, the Board is reasonably confident that the new contribution rates can be sustained over this period.
Please note: Construction Income Protection Limited (CIPL) is the administrator of the Accident and Illness Benefits Program and Portable Sick Leave Scheme. The insurance policy is arranged by Windsor Management Insurance Brokers and distributed by CIPL. CIPL does not manage or process claims. All claims are managed and processed by Total Claims Solutions, who has been appointed as claims manager of QBE Insurance (Australia) Limited. CIPL does not give any advice in relation to the insurance policy.