Stapled super funds for employers

1/12/21 Written by Rob Brint

There was a recent change that means to comply with choice of fund rules you may need to do something extra when a new employee starts to work for you.

Previously, if a new employee doesn't choose their own super fund, you could pay super contributions for them to your default fund.

From 1 November 2021, if you have new employees start and they don't choose a specific super fund or your default fund, you need to request their 'stapled super fund' details from the ATO.

A stapled super fund is an existing account which is linked, or 'stapled' to an individual employee, so it follows them as they change jobs. This change aims to reduce the number of additional super accounts opened each time they start a new job.

You can request stapled super fund details for new employees using Online services for business after you have submitted a Tax file number declaration or Single Touch Payroll (STP) pay event, which identifies that you have an employment relationship or link to your employee.

For contractors, you will need to request their stapled super fund details using the secure mail function in ATO Online services for business.

For the latest stapled super fund information visit the ATO or contact Outsource CFO if you have any questions.