Select your Super Fund as an Employee

Some content outlined in this article relates to a release that is currently scheduled for staggered release into portals from 11 May 2022 through June 2022. The features and functionalities in this article will not appear in a portal until after the release is live.

Overview

Before your superannuation contributions can be allocated, you'll need to nominate your preferred super fund. Your employer or agency may enter these details on your behalf, or may request that you enter them in your portal. 

The below process can be used to nominate a super fund if you:

• are a non-PAYG employee who is entitled to superannuation;
• are a PAYG employee who has not opted in; or,
• have previously nominated a super fund and would like to make changes to the details.

Select a Super Fund

Your super fund is managed in the Profile > Tax & Super tab of your portal. If you haven't nominated a super fund previously, you will see the option to Select Super Fund. 

If you have previously selected your super fund and are changing these details, you will see your current details in Step 2: Superannuation Information. These can be overwritten by clicking Select Super Fund. 

From the popup Superannuation Fund Wizard window, you can choose one of three options: 

• USI/ABN/SPIN
• Use super fund nominated by employer
• Keep Existing Fund

Nominate a Super Fund using the USI or ABN

With the introduction of SuperStream, all APRA regulated superannuation funds have a USI (Universal Superannuation Identifier). The USI supersedes the SPIN as the identifier of a specific superannuation fund and product. If an employee provides you a fund with a SPIN, please ask them to contact their super provider to request a valid USI.

To update an employee's super fund using the USI or ABN:

1. Enter a USI or ABN to search for a fund > Next. 

2. Choose the correct fund and product from the list > Next.

3. Enter the employee’s Account Name and Member Number.

4. Click Save.

If the fund does not appear in the product list, select 'My fund is not listed here' and then ‘My fund is an APRA fund or retirement savings account (RSA)’ and click Next.

You will need to enter the fund details in the fields provided. If the employee is completing this information, there is an option for them to upload a document stating that the fund is compliant and accepts SuperStream contributions.

Nominate a Super Fund to a Self Managed Super Fund

To update an employee's super fund after it has been initially set up, click Edit Super Fund and then:

1. Enter the ABN of the self managed super fund > Next.

2. Select ‘My fund is a self-managed super fund (SMSF)’ > Next.

3. Complete the fund details that are requested. Mandatory fields are marked with an asterisk.

4. Choose one of the three options to declare that the SMSF is compliant and will accept SuperStream contributions:

5. Click Save.

Nominate a Super Fund to the Default Fund

To change the employee's nominated fund to your portal's default fund.:

1. Select Use super fund nominated by employer > Next.

2. Review the summary of the fund details, then enter the account name and member number for the employee.

3. Click Save.

Keep the Existing Fund

If a super fund has already been set, selecting 'Keep the Existing Fund' allows you to manually enter the details for your current fund. This can be used if your account name or member number need to be updated or if any of the details for the fund need to be revised. 

1. Select Keep Existing Fund > Next.

2. Enter the details for the APRA regulated fund or Retirement Savings Account (RSA). All fund fields are mandatory. Account name and member number need only to be supplied if relevant.

3. Attach a Certificate of Compliance to validate that the fund complies with SuperStream requirements and will accept contributions that you make. 

4. Click Save.