Super Choice Rules Changing From 1st November

Superannuation choice rule changes

When you have new employees who start from 1st November 2021, and they don’t choose a super fund, there will be new steps that will need to be taken.

You may now need to request their “stapled super fund” from the Australian Taxation Office (ATO).

The ATO has introduced a new stapled super fund, which is an existing super account of an employee that follows them as they change jobs, in an attempt to prevent employees paying excessive fees, from multiple superannuation providers.

You will need to request stapled super fund details when:

  • your new employee starts on or after 1 November 2021
  • you need to make super guarantee payments for that employee, and
  • your employee is eligible to choose a super fund but doesn’t

You would still offer your eligible employees a choice of super fund as a first step. If they don’t choose a super fund, then you would log into the ATO Online Services and go to “Employee Super Accounts” to request their stapled super fund details. As a tax professional we can do this for you if you are our client.

If the new employee doesn’t choose a super fund, and doesn’t have a stapled fund then you can play into a default fund.

You can get further information about stapled super funds at the ATO Stapled super fund page

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