With the passage through Parliament of the Your Future, Your Super measures on 17 June 2021, an employee’s superannuation account will follow them from job to job unless they make an active choice to nominate a different account.
From 1 November 2021, new employees will be ‘stapled’ to an existing superannuation account. From that date new arrangements will apply when onboarding new employees. The changes do not apply in respect of continuing employees.
From 1 November, if a new employee does not choose a preferred super fund using the Standard Choice Form, the employer must contact the Australian Taxation Office (ATO) to establish if an employee has an existing account. If the ATO identifies such an account, the employer must make contributions into this ‘stapled’ account.
