superchoice_obligations

Superchoicegovau 6 choice of superannuation fund and

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Unformatted text preview: e outlined at www.superchoice.gov.au 6 ■ CHOICE OF SUPERANNUATION FUND and on page 7 of the Tax Office publication Choice of Employers need to include the details of the employer fund MAKE SUPERANNUATION CONTRIBUTIONS TO THE EMPLOYER FUND FOR EMPLOYEES WHO HAVE NOT CHOSEN A FUND on Part A of the Standard choice form. An employer must make sufficient superannuation superannuation fund – guide for employers. contributions for an employee to an employer fund each PROVIDE A STANDARD CHOICE FORM TO ELIGIBLE EMPLOYEES quarter if: If employers have eligible employees as at 1 July 2005, ■ the employer has not accepted an employee’s choice ■ an employee has not chosen a fund, or they must give those employees a Standard choice form because the employee has not provided all the before 29 July 2005. information required to choose a fund. Employers must give new eligible employees first starting their start date. MUST NOT CHARGE A FEE FOR OFFERING A CHOICE OF SUPERANNUATION FUND Employers also need to give a Standard choice form to An employer must not charge an employee a fee to recoup affected employees within 28 days of: the cost of complying with the choice of superannuation after 1 July 2005 a Standard choice form within 28 days of ■ a written request from an employee asking for a fund obligations. Standard choice form (unless the employer has provided that employee with a Standard choice form KEEP RECORDS within the previous 12 months) Employers need to maintain records that show they have ■ becoming aware that they are unable to contribute to an employee’s chosen fund ■ becoming aware that the employee’s chosen fund has ceased to be a complying fund, or ■ a change of the employer fund. met their choice of superannuation fund obligations, including: ■ details of employees who do not have to be offered a choice of superannuation fund ■ records confirming that the employer fund meets the The Standard choice form must include details of the insurance requirements or is covered by the transitional employer fund that superannuation contributions will be arrangements for insurance coverage made to if the empl...
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This note was uploaded on 03/25/2014 for the course FOBE 302 taught by Professor X during the One '13 term at Macquarie.

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