Select your default super fund
As an employer, you must select a default super fund that you will pay your employee's super into if they:
- Have not chosen a fund, and
- do not have a stapled super fund.
On this page
Why you need a default super fund
Most employees can choose a super fund or they will have a stapled super fund.
You must have a nominated (default) super fund and pay your employees super into this fund if:
- your employees do not choose a fund, or are not eligible to choose one, and
- we advise you that your employees do not have a stapled super fund.
You don’t need to offer a choice of super fund to some employees, but you may still need to request their stapled super fund details before paying to your default fund.
This includes employees that are:
- temporary residents
- covered by an enterprise agreement or workplace determination made before 1 January 2021.
You give your employees the details of this fund in section B of the Standard choice form.
Selecting a fund
The super fund you nominate must:
- be a complying fund (one that meets specific requirements and obligations under super law)
- be registered by the Australian Prudential Regulation Authority (APRA) and offer a MySuper product (these are cost-effective superannuation products with a basic set of features).
To confirm that a fund meets these requirements, you can:
Ensure you keep records confirming that your nominated fund offers a MySuper product.
Incentives
It is illegal for a super fund to give benefits to employers as an incentive to use them as their default fund.
Example of incentives include:
- corporate hospitality
- free or discounted holidays
- discounted rates on products or services.
If you think a fund is offering incentives to join, you can report it to ASICExternal Link.
However, it is not illegal for a super fund to give benefits to your employees as an incentive for them to choose their fund. These could include financial literacy seminars or preferential death benefits.
Next step:
As an employer you must select a default nominated super fund that you will pay your employee's super into if they haven't chosen a fund and do not have a stapled super fund.