What is a default fund?
An employer-nominated fund is the fund you select for employees who do not exercise their right to choose a super fund. Many employees are eligible to choose their super fund. However, more than 90 per cent of employees contribute to their employer-nominated fund rather than selecting another fund. This may be due to low levels of consumer engagement with super. Where possible, Industry SuperFunds recommend that employers select a fund that considers the retirement income of their employees.
