Assign or Change the Super Fund Assigned to an Employee

Overview

Before superannuation contributions can be paid to an employee, they will need to have a superannuation fund assigned in the Tax & Super tab on their user profile.

Employees can submit these details themselves, or provide the information to a System or Payroll Administrator to enter it on their behalf. There are important considerations that need to be made when determining which super fund to assign to an employee, in line with government legislation on Super Stapling. 

Assign a Super Fund

If you are assigning a superannuation fund to an employee's profile on their behalf, go to Users > Employees > select the employee > Tax & Super. 

Profiles for new employees or employees who have not previously had a superannuation fund set up on will have the option to Select Super Fund. Click this to start the process of assigning super details to the employee. 

If there are personal details that are incomplete in the employee’s user profile, you'll be prompted to enter these in a popup window first. Once entered, they'll be reflected in the employee profile. You can then continue setting up their super fund information.

Change a Super Fund

Employee requests to change their superannuation fund can be actioned by a System or Payroll Administrator in Users > Employees > select the employee > Tax & Super. 

The existing superannuation information will be summarised in Step 2: Superannuation Information and can be overwritten by clicking Select Super Fund. 

Nominate a 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.