Superannuation :: Super Choice
Choice of Super Fund was introduced on 1 July 2005 and means that eligible employees may have the right to choose which super fund will receive their 9% superannuation guarantee (SG) contributions.
How does this affect you?
Employers
If you are an employer, this can place an extra burden on you in having to forward employee data and superannuation contributions to multiple super funds where your employees have exercised choice. TOWER’s PayEasy service can help you take care of remitting your superannuation contributions to multiple super funds so you can get on with more important things such as running your business. Click on the Employer section below for more information.
Employees
If you are an employee, you may have the right to choose the super fund that receives your SG contributions. If you are already a TOWER member (and this is the employer default fund), you don’t need to do anything if you wish to remain with TOWER. You should consider all your options and should consider speaking to your Financial Adviser or seek expert independent advice when making your decision.
Guide for Employees