What is an employer nominated fund?
Your employer nominated fund is the fund you pay an employee’s superannuation guarantee contributions to if they do not choose a fund. The super fund you choose must be a complying fund and from 1 July 2008 also offer a minimum level of life insurance, as set out in the regulations (with some exceptions). These requirements apply if you: • continue to make contributions to your existing nominated fund, or • choose a new fund. The fund you currently pay employee superannuation contributions to is likely to meet the requirements. However, to make sure it does check with the trustee or the authorised representative of the fund. Similarly, if you are considering a new employer nominated fund, check with the trustee of that fund to ensure they meet the requirements.
