As an employer, you have a number of obligations under the choice of fund legislation.
The general requirements are summarised below. For more complete information request an Employer Handbook, or view or download one here.
Your superannuation obligations under Choice legislation:
- Select a “default super fund” for employees who do not make their own choice of super fund. MTAA Super is a complying superannuation fund eligible to act as your default fund.
- When a new employee starts, you must provide them with a Standard Choice Form within 28 days of their commencement date.
- When an employee makes a choice, you have two months to start using their new fund (as opposed to their old one) to make superannuation contributions to. This does not mean that you have to change the frequency with which you make super payments.
- Keep all paperwork and maintain good records of your super payments.
If you have any queries, please call us on 1300 362 415