Employers are required to nominate a default super fund for employees who do not select their own choice of fund.
From 1 January 2014, all employers are required to use a MySuper Authorised Fund as the default super product. MySuper products have replaced most existing default super products offered by super funds.
Most Australians have been able to select their choice of super fund since 2005. While some workers are forced to have the super fund selected under their enterprise bargaining agreement (EBA), for most of us, super choice allows us to choose the super product we prefer.
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General advice disclaimer
This is general information only and does not take into account your personal objectives, financial situation or needs. You should assess whether the information is appropriate for you having regard to your objectives, financial situation and needs and consider obtaining independent professional advice before making an investment decision. If information relates to a specific financial product you should obtain a copy of the product disclosure statement for that product and consider that statement before make a decision whether to acquire the product.