Employers

Top 5 Crucial Answers for Employers

1How do I choose a default fund for my employees?
2What are my award super obligations?
3Do I include super in my Enterprise Bargaining Agreement?
4Why should I choose an Industry SuperFund for my employees?
5What can an Industry SuperFund do to help me make superannuation easier?

Scott Leach
Rose of Australia
Erskenville, NSW

Selecting a default super fund for your employees requires careful thought and some basic considerations.

You are obliged to make Superannuation Guarantee contributions to a default fund if the employee fails to choose their own fund to receive the 9 per cent super contribution. You should consider the super funds that are listed in your industry's Modern Award. (Modern Awards will usually nominate default fund or funds to be used by an employer when an employee fails to choose their own super fund.)

Your employer nominated fund (i.e. your default fund) must offer minimum life insurance cover to members. For details refer to the ATO website.

Use our Fund Finder Tool to see which Industry SuperFunds are listed in your Modern Award.

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Dean Sheppard
Project Interiors 21
Aspendale, VIC

If you have not negotiated and registered an Enterprise Agreement with your employees, they are likely to be covered by the terms of a Modern Award which sets all minimum terms and conditions of employment. Your obligations to pay the Superannuation Guarantee contribution may be affected by the terms of the award.

The award may specify which super fund or funds contributions should be paid into when an employee does not choose a fund themselves (the default fund).

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Brent Hutchinson
Don Kyatt Spare Parts
West Melbourne, VIC

Superannuation is a key condition of employment and as such should be considered in preparing comprehensive Enterprise Bargaining Agreements (EBAs).

A typical superannuation contribution clause allows for a minimum 9 per cent employer contribution into a nominated fund or a fund of the employees' choice. These types of clauses can impose additional obligations upon you compared to those under the Superannuation Guarantee.

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Brian Hewitt
CEO of Homestyle Aged Care
based in Victoria

Coral Cotter
Ferndale Gardens Site Manager
Bayswater North, VIC

Industry super funds now have 18.6 per cent of super assets, over 5.5 million members and over 590,000 employers.

According to SuperRatings, industry super funds dominated the published performance tables in the balanced option for all time periods of one, three, five and seven years to 30 September 2011.*

All of the top-10 performing super funds in the balanced option, over five years to 30 September 2011, are run only to benefit members. Of the top 10 funds, 8 are industry super funds.*

SuperRatings SR50 Balanced Index Option Survey as at 30 September 2011. Past performance is not a reliable indicator of future performance.
Industry SuperFunds offer a range of services that help you to cope with continually changing superannuation responsibilities.

They offer quick and easy online administration solutions, flexible payment and data transfer options, highly trained relationship managers, tailored corporate solutions and some offer a clearing house facility. Ask your Industry SuperFund about the options available to you.

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Employer Benefits

Learn about the benefits of Industry Superfunds for employers, including no fees, simple administration, and workplace support and education.

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Employer Legal Obligations

Information to help employers understand their compulsory super contribution obligations.

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Fund Finder

Learn more about the fund finder tool.

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Value Added Services for Employers

Learn about the ways Industry SuperFunds help you meet your super responsibilities.

Value Added Services