do not have a stapled super fund (as advised by us).You can pay super contributions into your employer-nominated fund (also known as a default fund, if your employee: If you don't meet your choice of super fund obligations, additional penalties may apply. The change aims to reduce account fees by stopping new super accounts from being opened every time an employee starts a new job. You may now need to request their ‘stapled super fund’ details from us.Ī stapled super fund is an existing super account which is linked, or 'stapled', to an individual employee so that it follows them as they change jobs. For employees who commence prior to 1 November 2021, this will be your employees nominated (defult) fund or another fund that meets your choice of fund obligations.This can be done at the same time as Step 2.įrom 1 November 2021, if you have new employees start you may have an extra step to take to comply with choice of fund rules if they don’t choose a super fund. Step 1: Inform employees of your default fundīefore you offer your employee the option to choose a super fund, you must inform them which fund you'll pay their super into if they can't or don't choose their own super fund. You can also review what you've learned in the Summary of Module 3. Step 4: Keep super guarantee employer records.Step 3: Provide an employee's TFN to their fund.Step 2: Offer employees a choice of fund.Step 1: Inform employees of your default fund.Module 3: Setting up super for your employees
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