FOR EMPLOYERS IN THE VICTORIAN CONSTRUCTION INDUSTRY

CEO Welcome

Craig Bell

Chief executive officer , LeavePlus

Supporting Industry Vitality With Preventative Wellbeing

Welcome to our July-September 2024 edition of LeavePlus News for Employers. In August, LeavePlus celebrated a significant milestone in the history of the Scheme, commemorating our first full year of the LeavePlus brand, having previously been known as CoINVEST for more than 30 years. The LeavePlus brand has been greatly received by the Construction Industry, and we will continue to bring our Members along the journey of our new brand identity into the future. A major part of this journey is demonstrating how LeavePlus supports the vitality of the Construction Industry as a leader in the preventative wellbeing space, which is why we’re thrilled to invite our Employer Members to our upcoming Workplace Wellbeing event.

Join Us At The LeavePlus Workplace Wellness Event on 17 October 2024

As part of our commitment to giving back and investing in the vitality and longevity of our industry, we’re bringing together thought leaders for insightful discussions over breakfast about preventative wellbeing.

Our free Workplace Wellness event at Crown Melbourne on 17 October will feature a panel of experts, led by former AFL player and coach Nathan Buckley. The panel will take you through research-based insights and practical strategies on how workplaces can prioritise wellbeing from the outset, before challenges arise. If you’re passionate about fostering a healthier, happier workforce, read our feature article below, and join us for a morning of insightful conversations.

Christmas Claims – Apply by Friday 8th November 2024

We are advising Worker Members who wish to claim a Long Service Leave Benefit for use over the Christmas period to complete their application before Friday 8th November 2024.

We intend to process as many applications as possible during this extremely busy period – but we are not able to guarantee that applications received after this date will be paid before Christmas 2024. It is important that we keep our members informed and set the expectations at this time of year. There are currently more than 74,000 LeavePlus Members who are eligible to claim a Long Service Leave benefit, so we need to process applications on a first-in first-out basis to ensure the Scheme is treating our Members’ applications in a fair and equitable way.

Business Transformation Project

As well as updating our brand identity and renovating our office building; our commitment to being the best operator of a portable entitlement scheme also extends to transforming the way we work. In 2024, we launched a large program of business-wide initiatives to elevate the way we work and the tools we use. The first raft of service upgrades to Members will be released in the coming weeks, with changes to the way that our Members log in and manage their access to the LeavePlus Portal. These upgrades are especially timely as we move into one of our busiest times of the year in the run up to Christmas.

Switchboard and Precast Work

From 1 July 2024, all classes of Switchboard Work and Precast Work became covered by the portable Long Service Leave Scheme administered by LeavePlus. Whilst we covered this in our last quarterly newsletter, we would like to remind any Employer engaged in any of these types of work who has yet to register their business with LeavePlus to contact us immediately to avoid criminal penalties.

Fund Highlights

The results are in for the performance of the Long Service Leave Fund for the Financial Year 2023-2024 (FY24). Overall, the year produced some excellent results, despite market volatility and some challenging economic conditions. The Fund grew by 10% (from $2B to $2.2B) over the year, produced by a 7.85% investment return (well above the 5.88% objective) and had $271.7M in contributions paid into the Fund from Employer Long Service Leave Charges.

In targeting a funding ratio of 120% (the Fund’s ability to pay current and projected long service leave benefits at 30 June 2024) LeavePlus again produced a result beyond target at 125.4% as at 30 June 2024. The strength of the Construction Industry Long Service Leave Scheme is underpinned by our responsible investment model for managing the Fund.

This positive performance and the stability of having a centrally administered Scheme reassures LeavePlus Members that the funds are there when they need to take their well-earned break.

Craig Bell

Chief Executive Officer, LeavePlus

LeavePlus is thrilled to invite our Employer Members to our free breakfast event focussed on preventative wellbeing on 17th October 2024.

Workplace Wellness is an exclusive breakfast event that reshapes how we approach wellbeing.

As part of our commitment to giving back and investing in the wellbeing of our industry, we’re bringing together thought leaders and experts for insightful discussions.

If you’re passionate about fostering a healthier, happier workforce, join us for a morning of insightful conversations with industry experts and thought leaders as we explore the evolving blueprint of preventative health and wellbeing. Discovering why prioritising prevention may just be the secret to a happier, healthier life, for you and your team members.

Why attend?

Insightful Discussions: A thought provoking panel on the evolving blueprint of preventative health and wellbeing. Discover why prioritising prevention may just be the secret to a happier, healthier life, for you and your team.

Captivating Speakers: Experience the opportunity to hear from the renowned Nathan Buckley and other distinguished speakers, who will share their expertise and experiences in both personal and professional contexts.

Tactical Takeaways: Gain practical tips, tools and strategies that empower you to nurture a healthier, happier version of yourself and your team.

Location:

Crown River Room,

Level 1 Crown Towers,

Crown Melbourne,

8 Whiteman Street,

Southbank VIC 3006

Date:

Thursday 17 October 2024

Time:

7:00am – 9:00am

Join us on October 17

We look forward to seeing you!

LeavePlus Updates

Let’s take a look at some of the key messages and current talking points from LeavePlus.

Quarterly Returns due 14 October

The July to September 2024 Quarterly Return is now available for Employers to complete on the LeavePlus Portal.

The due date for submission is 14 October 2024.

As the industry regulator and administrator of the Construction Industry Long Service Leave Scheme, LeavePlus applies strict legal and financial consequences for Employers who fail to comply with their registration, reporting, and payment obligations under the Scheme.

If you require assistance or are unable to submit your Return before the due date, please call our Member Services team on 03 9664 7677 or 1300 264 683.

All Employers should familiarise themselves with the requirements as an Employer under the Act and the Scheme Rules and the consequences of non-compliance.

Long Service Leave Benefit claims received after Fri 8th Nov 2024

The run up to the Christmas holidays is a high demand period for Workers claiming Long Service Leave Benefits from LeavePlus. The Construction Industry generally takes an extended break from late December through to January to make the most of those cherished summer months.

Many LeavePlus Members apply to be paid a Long Service Leave Benefit from LeavePlus at this time so that they can take a well-earned break from work and come back refreshed and revitalised. With this being a popular choice among our Members, it can create a high demand on Member Benefits team.

With this in mind, applications to claim Long Service Leave Benefits which are received after Friday 8th November 2024 will be processed for payment in early 2025.

Precast Work and Switchboard Work

From 1 July 2024, all classes of Switchboard Work and Precast Work became covered by the portable Long Service Leave Scheme administered by LeavePlus.

This means that from 1 July 2024, all Employers who employ Switchboard Workers and Precast Workers must register their business with LeavePlus, report the Service of their Workers in Quarterly Returns, and pay Long Service Leave Charges to LeavePlus.

If you are an Employer engaged in any of these types of work and have yet to register your business with LeavePlus, please call us as soon as possible on 03 9664 7677 or 1300 264 683 to ensure your business is complying with the law.

Member Login Improvements

Over the next couple of months, we will be implementing a new authentication solution that will provide a more secure, user-friendly way to access the LeavePlus Portal. Here’s what our Members can expect:

If you’re logging in on a mobile device, you will notice the log in page will be updated to the LeavePlus branding (formerly CoINVEST).

You will have the ability to unlock your account yourself. You’ll also be notified if your account is locked for any reason.

No more copying and pasting temporary passwords if you forget or need to reset your password. You will instead receive an email with a link to reset your password.

Better supporting guidance and new website FAQs to guide you through.

To make the move as smooth as possible, please advise your Workers to:

+ Update or confirm their personal and contact details in the LeavePlus Portal

+ Add their current mobile phone number to their profile

+ Set up Multi-Factor Authentication to protect their personal and private data

We may contact you in lead up to this change if we identify any incorrect details for your Employer profile in the LeavePlus Portal, or if we need your support to correct the details of any of your Workers – so why not get a head start and nudge your Workers to complete these steps in advance of the changes? We will also have an update on the LeavePlus website to let you know the transition has been completed.

In the coming weeks, we will be transitioning to a leading authentication solution that will provide a more secure, user-friendly way for our Worker and Working Sub-Contractor Members to access the LeavePlus Portal. Here’s what they can expect:

When logging in for the first time, they will be prompted to reset their password. On mobile devices, they will also notice the log in page will be updated to the new LeavePlus branding (formerly COINVEST).

Members will benefit from the ability to self-service when reactivating locked profiles or resetting passwords via a magic-link. This means no more copying and pasting temporary passwords or having to call us just to reset passwords. There will also be additional resources for Members to access to guide them through each process step by step.

To make the move as smooth as possible, please advise your Workers to:

+ Update or confirm their personal and contact details in the LeavePlus Portal

+ Add their current mobile phone number to their profile

+ Set up Multi-Factor Authentication to protect their personal and private data

We will be contacting Employers if we need your support in updating your Workers’ details – so why not get a head start and nudge your Workers to complete these steps in advance of the changes.

FY24 Fund Highlights

Funds Under Management

Investment Return

Funding Ratio

The Fund grew by 10% (from $2B to $2.2B) over the year, produced by a 7.85% investment return (well above the 5.88% objective) and had $271.7M in contributions paid into the Fund from employers’ Long Service Leave Charges.

This positive performance and the stability of having a centrally administered Scheme reassures LeavePlus members that the funds are there when they need to take their well-earned break.

CoINVEST Limited as Trustee for the Construction Industry Long Service Leave Fund (trading as LeavePlus) ABN: 35 078 004 985.

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LeavePlus acknowledges the Traditional Owners of the land where we work and live, and we pay our respects to Elders past and present.