Default Super fund
What is a Default Superfund?
A default fund is a super fund you can pay your super guarantee contributions to if your employee does not nominate a super fund of their choice.
Every employer must have a default super fund (see the ATO guidelines about this). This is the super fund your employees can join if they don't already have one. It can be any complying fund that's registered by the Australian Prudential Regulation Authority (APRA). If you need help choosing a default super fund, ask your advisor.
Once you've decided on your default super fund, contact that fund to obtain an employer membership number. You can then add this super fund into AccountRight (as described above), then set it as your default super fund.
To set your default super fund in AccountRight
- Go to the Setup menu and choose General Payroll Information.
- Choose your Default superannuation fund.
- Click OK.
If a new employee chooses your default fund, you'll need to contact the fund so they can allocate a membership number. Also see Add an employee for details on setting an employee's super fund.
