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 C 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.