Many fund members are probably unaware that another super change is on the horizon.  And, depending upon their remuneration arrangements, thousands of employees will end up with less take-home pay but without a reduction in the value of their overall remuneration or salary package.

From July next year, employers must ensure that their employees' 9% superannuation guarantee contributions are based on ordinary time earnings (OTE).

In short, ordinary time earnings comprise your employment income for your ordinary hours of work including your bonuses, commissions, shift allowances and paid leave - but excluding overtime.

Research by the remuneration, superannuation and investment consultancy Mercer found 33% of employers surveyed already base their calculations for superannuation guarantee contributions on their employees' ordinary time earnings while 42% exclude the likes of bonuses, commissions and allowances from their calculations.

What is the potential change for you?

If you have what is often known as a total-fixed-remuneration package - with your employer agreeing to pay you a total dollar amount including all super - your take-home pay may be reduced under the new system from July next year. But the actual value of your package will not change.

But where superannuation is treated as an additional cost for your employer under your particular arrangements, your remuneration, including superannuation, may increase.

Of course, if your employer already bases your superannuation guarantee contributions on ordinary time earnings, nothing will change.

The breathtaking shakeup to the superannuation system from July this year have so dominated the attention of fund members, it would have been easy to overlook the pending change to the way superannuation guarantee contributions are calculated.

For most employees, the change to how compulsory contributions are calculated is not highly significant in dollar terms. But a key part of sound personal financial practices is to understand how you are remunerated and to ensure that your remuneration is received as effectively as possible.