Super stapling is part of the Your Future, Your Super federal government super changes and began on 1 November 2021.
Previously when you started a new job you might have been automatically put into your employer’s super fund. Over time, and with each new job you started, you may have ended up with multiple super accounts.
To help reduce the number of super accounts you have, and paying multiple sets of fees, the federal government launched a new ‘stapling’ rule.
Now, with most people ‘stapled’ to their existing super fund by the ATO, they’ll generally take that same fund with them from job to job unless they actively decide to choose a different fund.
Helping your super account move with you
As well as reducing the number of super accounts you have throughout your working life, in most cases stapling also helps to keep your existing fund when you change jobs, with most employers responsible for checking with the ATO to see if you have a ‘stapled’ fund.
Compare your super
If you were automatically put into a super fund at the start of your working life it might be a good idea to check the performance of your existing fund, including the fees you pay.
You can use the ATO’s YourSuper comparison tool or the Chant West Super Apple Check comparison tool to help you compare super funds.
Learn more at: australiansuper.com/campaigns/employee-choice
This article may include general financial advice which doesn’t take into account your personal objectives, financial situation or needs. Before making a decision consider if the information is right for you and read the relevant Product Disclosure Statement, available at australiansuper.com/pds or by calling 1300 300 273. A Target Market Determination (TMD) is a document that outlines the target market a product has been designed for. Find the TMDs at australiansuper.com/tmd
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