17 November 2021
“Your Future, Your Super” Brings Superannuation Goals Into Focus for Employers and Staff
Stapling is the prevention of unintended multiple accounts (otherwise known as “stapled funds”). Simply put, this means that an employee’s superannuation account will stay with them when they change employers. If an employee changes jobs, their new employer is required to pay Super Guarantee (SG) payments into the employee’s stapled fund unless the employee completes a ‘Choice of Fund’ form nominating a different super fund. If an employee does not have a stapled fund (for example, when an employee first enters the workforce) and does not make a ‘Choice of Fund’ selection, the employer may make the SG payments into an account set up with the employer’s default fund.