Introducing your super

MySuper

MySuper is a new, simple and cost-effective super product that will replace existing default products.

What does MySuper mean for employers?

All employers have a nominated super fund, or ‘default fund’, where they make super guarantee payments for employees who have not selected a preferred fund (by completing a choice of fund form).

From 1 January 2014, employers must make these contributions to a fund that offers a MySuper product.

Existing superannuation funds will be able to apply to APRA to offer a MySuper product. Super funds are allowed to start offering MySuper products from 1 July 2013.

What you need to do:

• For almost all employers, it is expected that their existing default fund will offer a MySuper product – these employers will not have to make any change to the payment of superannuation guarantee contributions.
• Your fund should contact you to provide you with information to transition from existing arrangements.

For more information, refer to Super reform - questions and answers for employers

Sections within Employers

• Changes to the super guarantee rate
• Removal of super guarantee upper age limit
• MySuper
• Data and e-commerce standard
• Proposed payslip changes
• Checklist
• More information