Superannuation Legislation Amendment (Choice of Superannuation Funds) Act 2005 (82 of 2005)

Schedule 1   Choice of superannuation funds

Superannuation Guarantee (Administration) Act 1992

10   After subsection 32N(5)

Insert:

(5A) An employer must also give a standard choice form (the updated standard choice form ) to an employee if:

(a) the employer has specified a fund (the employer fund ) in a standard choice form as the fund to which the employer will contribute under subsection 32C(2) in the event of the employee failing to make a choice of fund; and

(b) the employer discovers, after giving an employee the standard choice form, that the employer cannot contribute to the employer fund for the benefit of the employee.

The updated standard choice form must be given within 28 days after the employer first becomes aware that the employer cannot contribute to the employer fund for the benefit of the employee.