So what is choice of fund?
The Federal Government introduced choice of fund legislation on 1 July 2005. This means that most employees have the ability to choose the super fund into which their employer's compulsory superannuation guarantee (SG) contributions are paid.
The benefit of choice of fund is that you will have more control over where your employer's SG contributions are paid. So even if you change jobs, you can continue to keep the one super account for life, just like your normal bank account.
Choice of fund is not available to everyone. Your employer will be able to confirm whether choice applies to you.
It is recommended that you seek professional financial advice before making any decision about changing your super fund. You should also have a clear understanding of the impact to your existing super if you exercise choice.
How much super is enough?
Need to know more?
What is super? How much super is enough? Seeking a better retirement? Benefits of starting early
Or call the helpline on
1800 555 667
Need to know more?
Choice of Superannuation Fund Fact Sheet
