With the passage through Parliament of the Your Future, Your Super measures in June 2021, an employee’s superannuation account will now follow them from job to job unless they make an active choice to nominate a different account.

For new employees from 1 November 2021, who do not nominate a preferred superannuation fund, the employer will be required to ask the Australian Taxation Office (ATO) if the employee already has a ‘stapled’ superannuation account. If the ATO identifies a stapled account, the employer must make contributions into that account.

If the ATO reports that the new employee does not have an existing ‘stapled’ account, the employer will be required to create an account with, and make contributions into, the employer’s nominated default super fund (as occurs now when a new employee does not nominate a preferred fund).

If a new employee nominates a fund using the Standard Choice Form, there is no change to current arrangements.

These changes only apply to new employees from 1 November 2021. There are no changes for continuing employees.

Ahead of 1 November 2021, the ATO will issue guidance to employers on the procedures they will need to follow.

If you would like more information about superannuation entitlements, please contact Ai Group’s Workplace Advice Service on 1300 55 66 77.

Alternatively, if you would like advice and assistance regarding superannuation in enterprise agreement or employment contracts, please contact your local employment, workplace and industrial lawyer in Sydney, Newcastle, Adelaide, Melbourne, Perth or Brisbane or contact Ai Group Workplace Lawyers here.

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