Why do I need a default super fund
Hi I'm really confused. I have a new employee who already has a super fund that they want their contributions to go into.
If I use the self onboarding 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 either elect to use my default fund, or provide details of their own fund.
I contacted Australian Super to see if i can use them as my default fund and obtain an employer membership number but was told i only need a default fund if my new employee hasn't nominated their own super fund.
So now I'm confused, what do I do with the onboarding if my new employee already has their own super fund. Do I no longer need to nominate a default fund?? Can I skip all this onboarding default super fund stuff if I just enter him manually into the system?
Thanks
Hi MJ7,
You’ve raised a solid question about handling super when your employee already has their own fund. Every employer still needs to set a default super fund for the business because it’s used if a new employee doesn’t nominate their own. Once that default is in place, your employee can keep using the fund they already have. You can grab more info about default super funds through this link by looking for the section called “To set a default super fund for your business.”
Cheers,
Doreen
