From November 1, 2021, organizations with new employees must comply with new rules around stapled super funds, an existing super account linked, or ‘stapled,’ to an individual employee that follows them as they change jobs. Organizations may request their stapled super fund details from the Australian Taxation Office (ATO).
If employers do not meet their choice of super fund obligations, additional penalties may apply. The change aims to reduce account fees by stopping new super accounts from being opened every time an employee starts a new job.
What employers can do now
To make sure you’re ready to request stapled super fund details, check and update the access levels of your authorized representatives in ATO online services.
If an authorized representative doesn’t:
- have full access to ATO online services, they will need to have the ‘Employee Commencement Form’ permission to request a stapled super fund
- need to access this service, you should remove this permission for them to protect your employees’ personal information.
What employers need to do from 1 November 2021
You may need to request stapled super fund details when:
- your new employee starts on or after November 1, 2021,
- you need to make super guarantee payments for that employee, and
- your employee is eligible to choose a super fund but doesn’t.
You don’t need to offer a choice of super fund to some employees, but you may still need to request their stapled super fund details. This includes employees that are :
- temporary residents
- covered by an enterprise agreement or workplace determination made before 1 January 2021.
Please go to ATO for details on setting up a super fund.
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