Choice of Superannuation Fund

At Intrust Super we are taking the pressure off you by helping minimise the time you need to spend managing the Choice of Fund (Choice) laws. Even if the number of funds you are paying into have increased, it doesn’t mean that the hours you spend on your company’s super have to go up as well.

Choice of super was introduced in July 2005 and enables some employees to choose the fund their employer pays their superannuation contributions into.

What do I need to do?
• Intrust Super is a complying fund therefore you are able to choose us as the default employer fund for your employees. There are many benefits of choosing us as your default super fund. For starters it gives you the option of choosing the fund for your employees in the event they have not made the choice and it also helps reduce the time you spend on super matters by minimising the amount of funds you need to deal with. You need to fill in your chosen fund's details in Part A of the Standard Choice Form.

• If eligible, make sure your employees are aware they have a choice, and provide them with a Standard Choice Form. These forms are included in the middle of our Member Information Guide. When new employees start, you’ll have 28 days from the day they start work to give them the Standard Choice Form.

• For employees who do not wish to make a choice, ensure you have established your default employer fund, such as an Intrust Super employer account to pay your contributions into.

• Start paying contributions into each employee’s chosen fund. There are some ongoing obligations. You need to allow your eligible employees to change where their superannuation is paid once every 12 months. You also need to keep records of their choices and that you have advised them when they can change their chosen fund.

We can help you every step of the way in setting up Intrust Super as your default employer fund.

As your Fund:

• our Client Service Managers can assist you and explain anything you are unsure of, such as which of your employees are eligible to choose their fund; and
• we can provide you with information to assist these employees in making an informed decision.

For more information please contact us on 132 467.