Super choice – what you need to know

Many Australians have the right to choose the super fund to which their Superannuation Guarantee (SG) contributions are to be paid. 

Who can make the choice?

Employees employed under a Federal award, a former State award, under another award or agreement that does not require superannuation support, and those not covered by any state award or industrial agreement, can choose their own super fund.

It does not apply to contributions being made under certified agreements or Australian Workplace Agreements.

Ask your Human Resources department or your financial planner whether you are eligible to choose your own super fund.

How does choice work?

When you start a new job, you will be given a Standard Choice Form. You can also request the form from an existing employer. Use this form to let employers know of your choice of superannuation provider.

There is no deadline for making a choice, however an employer only has to allow one choice every 12 months.

You don’t have to make a choice. If no choice is made, an employee’s compulsory super will be paid into the employer’s nominated ‘default’ fund.

If you want to make a choice, you have to provide evidence that the fund you have chosen is a complying fund, that your chosen fund will accept contributions from your employer, as well as how your employer can make payments to your chosen fund.

What is a complying fund?

A complying superannuation fund is one that is regulated in a way that gives the fund special tax treatment. This does not guarantee the fund's capital or investment earnings.

Super Choice doesn’t need to be difficult or confusing

Sometimes a broad choice can feel daunting, but it doesn’t need to be. Each super fund should be able to provide information about their products. If you want professional advice you can speak to a financial planner.

For more information, read Making Choice easy for you. Employers should read this version.