Superannuation :: Super Choice for Employers
How does Super Choice affect you?
From 1 July 2005 you may have to offer choice of super fund to your employees. This will give eligible employees the right to choose which super fund receives their SG contributions. It’s important to note that it does not apply to salary sacrifice payments or voluntary employer contributions.
Eligible employees who want to choose their own fund must name a complying super fund or Retirement Savings Account (RSA). Your employee will need to provide you with details of the compliance status of the fund they have chosen. Also, the fund must be able to accept the contributions from you.
New eligible employees employed after 1 July 2005 must be given a standard choice form within 28 days of first starting employment.
It is not compulsory for employees to choose a super fund. If they do not exercise choice their SG contributions can be made to a fund chosen by you, the employer, (disclosed as the default fund in the standard choice form) provided the fund complies with the requirement to offer insurance in respect of death. Your TOWER employer sponsored fund will satisfy the requirements for being your default fund. By nominating this fund as your default fund, you may continue to pay SG contributions for all of your employees (except those who specifically choose a different fund) into your TOWER employer sponsored fund.
Read our Guide for Employers 
for more information about Super Choice and how it affects you.
