From 1 November 2021 new employees should be provided with a superannuation standard choice form and have superannuation contributions paid into their nominated fund.
If the new employee does not nominate a superannuation fund, then the employer is required to request the employee’s “stapled” super fund details from the ATO. The stapled super fund is an existing super account of an employee which follows the employee as they change jobs!
Where the employee doesn’t make a super choice and the ATO advises there is no stapled fund, then the employer may pay contributions into a default fund.
For more information on super choice CONTACT US today!