What is a default super fund?
A default super fund is what you pay your employees’ super into if:
- they do not nominate a preferred super fund, or
- have a stapled super fund.
Why do you need a default super fund?
Your employee has the right to choose their own super fund when they start a new job. That said, there are times an employee won’t nominate a super fund when they start working for you.
Often it’s because employees are new to paying super. They might have come from overseas. It might be their first job. They might not have a ‘stapled’ fund.
That’s where you come in. As an employer, you must have a default super fund (or an employer default super fund).
That means you can pay super to those who do not have a fund, and any employees who do not nominate a fund.
Why choose AustralianSuper?
Free tools and support
Value for your employees
All the support you need
How to set up
Follow these 4 steps to make AustralianSuper your default super fund now.
Register with us
Let’s work together. Register with AustralianSuper and choose us as your default super fund today.
Register nowDownload standard choice form
Give your employees a pre-filled Superannuation standard choice form within 28 days of starting their job. If they don’t nominate a fund, request their stapled super fund details.
Download the formSupply their tax file number
Give your employee’s tax file number (TFN) to their super fund. Just make sure you do this within 14 days.
Find out howPaying your employees
Set up your systems to pay super to the right fund. You can bring your own clearing house, or try QuickSuper.1 It’s fast, free and secure.
Sign up for QuickSuperSet up super for your business
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Show Transcript
Paying super for your employees is required under super guarantee legislation, and there can be consequences if you don't meet your requirements. If you don't know where to begin, AustralianSuper is here to help.
Here are five simple steps to get started.
Firstly, select your default super fund such as AustralianSuper.
Next, offer eligible employees a choice of super fund. You need to do this within 28 days of your employee starting their job. If they don't make a choice or aren't eligible, you must request their stapled fund details from the Australian Tax Office.
A stapled fund is simply a fund they are already a member of. Then send their tax file number to their super fund within 14 days of receiving it.
Step four, set your systems up to pay super contributions electronically to the right fund.
And lastly, keep records of super contribution payments and evidence that you offered the choice of super fund to eligible employees.
Once you've got your business set up to pay your employees super, make sure you understand what else you need to do to meet your super obligations.
Whether it's who, what, when or how to pay super,
AustralianSuper is here to help.
For more information, visit http://australiansuper.com/SuperRules
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Important information to consider
- QuickSuper is a registered trademark and a product owned and operated by Westpac Banking Corporation ABN 33 007 457 141. Westpac’s terms and conditions applicable to the QuickSuper service are available after your eligibility for the clearing house service is assessed by AustralianSuper. A Product Disclosure Statement (PDS) is available from Westpac upon request. AustralianSuper doesn’t accept liability for any loss or damage caused by use of the QuickSuper service and doesn’t receive any commissions from Westpac if employers use this service. You can choose to make your contributions using a different service, but it needs to meet the government’s minimum data standards, visit ato.gov.au
- AustralianSuper Balanced investment option compared to the SuperRatings Fund Crediting Rate Survey - SR50 Balanced (60–76) Index to December 2024. Investment returns aren’t guaranteed. Past performance isn’t a reliable indicator of future returns.
- Source: Zenith CW Pty Ltd (Chant West) (ABN 20 639 121 403). Chant West Super Fund Fee June 2024. Survey compares administration fees and costs for MySuper products for a $50,000 balance. Other fees and costs apply. Fees may change in the future which may affect the outcome of this comparison.
- AustralianSuper Member Data. Average daily new member joins. Financial year to 30 June 2024.
- APRA Quarterly superannuation fund level statistics September 2024. Released December 2024
- Readers Digest Most Trusted Brands – Superannuation category winner for eleven years’ running 2013–2024, according to research conducted by independent research agency Catalyst Research. Awards and ratings are only one factor to be taken into account when choosing a super fund.