Australian Education Union Victoria.
Privacy Feedback Help us Improve Contact About Us Membership Services Join/Update
 
Home Library

Superannuation Choice of Fund

From 1 July, 2005 changes to the law means that many Australian employees will be able to choose which fund their employer's future superannuation guarantee contributions are paid into.

Employees in defined benefits schemes (Revised, New and SERB) are unaffected. Also, if your certified agreement names a fund you will not have choice.

If you wish to change your superannuation fund you must complete a Standard Choice Form (NAT 13080) and nominate the fund of your choice. The fund you choose must be a complying fund and able to accept your SG payments.

All new employees will be offered choice. Your employer is required to provide you with a standard choice form within 28 days of your starting date. If you do not exercise a choice the employer will open a superannuation account on your behalf in the default fund which is VicSuper. Standard Choice Form can be found at http://www.ato.gov.au/content/downloads/n13080.pdf

Due to the nature of their employment casual relief teachers (CRT) are considered for the purposes of the Act as "new" employees each time a school employs them regardless of whether the CRT has previously been employed by the school. Where the employment of the CRT does not exceed 28 continuous days (calendar days) of employment then schools are not required to provide a Standard choice form to the CRT.

 © 2007, Australian Education Union Victoria Privacy | Feedback | Help us Improve | Contact  
Last Modified: Thursday, 11-Sep-2008 16:29:24 EST
This page: http://aeuvic.asn.au/library/super_choice.html

Proudly designed and programmed by
Social Change Online
ACTU Vic Trades Hall Council AEU Federal Office AEU