Forum Discussion

MJ7's avatar
MJ7
Experienced Cover User
6 months ago
Solved

Default super fund

Why do I need a default super fund?  I'm really confused.  I have new employee who already has a chosen super fund that they want to use for contributions.

 

If I use the self-boarding system to set him up in MYOB Business, it says I need to select a default super fund, obtain an employer membership number and provide these details to the new employee who can then decide if they want to use this default fund, or nominate their own.

I contacted Australian Super to see if I could use them as a default super fund and they told me I only need to have a default fund if the employee doesn't have a nominated fund.

 

So now what do I do with the onboarding stuff if my new employee already has his own super fund, do I no longer need to nominate a default fund? Can I skip this whole onboarding default super fund stuff if I just enter his super details manually into the system?

  • Hi MJ7​ - thanks for your question.

     

    The ATO requires every employer to have a default super fund (here are the ATO guidelines) which your new employees can choose if they don't already have a super fund.

    When a new employee goes through the self-onboarding process, they can choose their existing super fund.

     

    I hope this clarifies things for you!

     

    Adrian

5 Replies

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    11 days ago

    Hi arjay,

     

    I get how making that clearer would make the onboarding process easier. Unfortunately, the self-onboarding form can’t currently be customised, so if an employee chooses the employer’s default fund, the employer will need to obtain their membership number from the fund and enter it in the software.

     

    If you’d like this to be considered for a future update, you can suggest it on the Ideas Exchange board.

     

    Regards,

    Genreve

  • arjay's avatar
    arjay
    Experienced Cover User
    12 days ago

    Thanks for that.

    Whilst I understand that,  unfortunately it appears that new employees don't. 

    Is it possible to upgrade the on boarding form to make it absolutely clear they need to add their info

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    13 days ago

    Hi arjay

     

    Thanks for raising this. I can see how this could be confusing when onboarding a new employee.

     

    If they’re already a member of the employer’s default fund, they should enter their existing employee membership number. If they don’t have one yet, they’ll need to contact the fund to confirm what should be entered, then add it to their super details in MYOB. The onboarding wording could certainly make this clearer.

    More information: https://www.myob.com/au/support/myob-business/payroll/superannuation/set-up-superannuation-funds?productview=Browser

     

    Regards,
    Genreve

  • arjay's avatar
    arjay
    Experienced Cover User
    13 days ago

    We have an issue with new employees selecting the default super fund because they are members of that fund.

    Maybe needs to be made clearer to add their membership number of that super fund, making it easier for onboarding.

  • Hi MJ7​ - thanks for your question.

     

    The ATO requires every employer to have a default super fund (here are the ATO guidelines) which your new employees can choose if they don't already have a super fund.

    When a new employee goes through the self-onboarding process, they can choose their existing super fund.

     

    I hope this clarifies things for you!

     

    Adrian