Tips and recommendations 

Can my employer dictate my super fund?

Leia Doyle

Can my employer dictate my super fund?

Important: It is illegal for your employer to try to influence your choice of super fund.

Is it illegal to not pay your employees super?

Penalties for not paying super Employers who do not pay the correct super for their employees may have to pay a superannuation charge which is made up of the shortfall amount, interest on that amount (currently 10%) and an administration fee. Failure to pay can mean a fine of up to $10,500 or 12 months imprisonment.

What happens if an employee does not provide super details?

What should an employer do when its employee is unable to provide his super details? Employer needs to show default fund on choice of super form. If employee does not return the form, then super can be paid to default fund.

Do I have to tell my employer if I change my super?

No, you don’t need to change your super fund if you leave your job. When you start your new job, simply give your new employer your super fund details and they’ll pay your super into your existing fund. If you don’t tell your new job about your super fund, you might have a new one opened for you in your name.

What is the minimum super contribution by employers?

10%
How much super your employer must pay. Your employer must pay at least 10% of your ‘ordinary time earnings’ into your super account. The minimum amount that your employer must pay into your superannuation fund. It is currently 10% of your gross salary.

Does an employer have to have a default super fund?

All employers must ensure that their default fund is a MySuper product. The good news is all Industry SuperFunds already have a MySuper product so it’s easy to find a quality super fund for your employees. The tool below will help you find the Industry SuperFund/s listed in your industry’s Modern Award.

Do casual workers get superannuation?

Superannuation must also be paid for any casual employee who is under 18 years of age, works at least 30 hours per week, earns at least $450 per month (before tax) and is not otherwise exempted. This means that employers must pay super for every week that an under-18 casual works 30 hours or more.

What details to give employer for super?

You’ll need to know your super fund’s name, ABN, address and phone number, and your tax file number, super account name and membership number.

What information do I need to give my new employer?

Paperwork

  • Have you signed and completed all the paperwork you need to give your employer?
  • Letter of offer /employment contract.
  • Tax File Number declaration form.
  • Superannuation choice form.

    Which Super Fund has lowest fees?

    10 cheapest pension funds (balanced investment option)

    Rank Fund name Fees as a percentage of balance
    1 REST 0.15%
    2 Hostplus 0.15%
    3 Media Super 0.22%
    4 NGS Super 0.22%

    What details do employers need for super?

    You’ll need to know your super fund’s name, ABN, address and phone number, and your tax file number, super account name and membership number. These can be found on the last annual statement you received from your fund or on their website.

    What if my boss doesn’t pay my super?

    Under the current law, if your employer misses an SG payment or doesn’t pay on time, it is required to lodge an SG charge statement and pay a late fee. To encourage employers to get their super affairs in order, the federal government introduced a one-off SG Amnesty in 2020.

    Which employees are employers legally obligated to pay super to?

    If an employee earns $450 or more in a calendar month, for that month they are eligible for Superannuation Guarantee contributions. If an employee is under the age of 18, they must work a minimum of 30 hours a week in addition to earning $450 or more a calendar month to be eligible.

    According to ATO rules, every employer is obliged to make super guarantee payments on behalf of eligible employees, and the default fund is where those payments will go unless an employee has nominated a super fund.

    10 cheapest pension funds (balanced investment option)

    Rank Fund name Fees
    1 REST $378
    2 Hostplus $384
    3 Media Super $540
    4 NGS Super $540

    When is an employer not required to make super contributions?

    Your employer is not required to make super contributions if you’re: paid to do work of a private or domestic nature for 30 hours or less each week temporarily working in Australia for an overseas employer and are covered by the super provisions of a bilateral social security agreement.

    Which is employee hasn’t provided Super details?

    Answered: Employee hasn’t provided super details – ATO Community ATO Community is here to help make tax and super easier. Ask questions, share your knowledge and discuss your experiences with us and our Community. Answered: Hi all, An ex employee hasn’t supplied us with their super details after several attempts to contact and obtain this info.

    Can a new employee choose their own super fund?

    Setting up new employees for super Employees can choose their own superannuation fund or retirement savings account. When you offer your employee a choice of super fund, you must tell them the name of the fund you will pay their super to if they don’t choose a fund.

    How can I Opt Out of Super from my employer?

    If you have two or more employers and expect your employers’ super contributions will exceed your concessional contributions cap for a financial year, you can apply to opt-out of receiving SG from some of your employers. Talk to your employer about the effect an exemption certificate may have on your pay or other entitlements before you apply.