What is choice of fund?

The Federal Government introduced choice of fund (choice) legislation on 1 July 2005. This means that most employees have the ability to choose the super fund into which their employer's compulsory superannuation guarantee (SG) contributions are paid.

Choice of fund is not available to everyone. Your employer will be able to confirm whether choice applies to you.

The benefit of choice of fund is that you will have more control of where your employer's SG contributions are paid. However, you should be aware of the risks associated with having choice. Perhaps the greatest risk is not understanding the benefits and services that your existing super fund offers you. You should also have a clear understanding of the impact to your existing super if you exercise choice.

It is recommended that you seek professional financial advice before making any decision about changing your super fund. To speak with a Mercer financial adviser about your options, call 1800 633 403.

 

For more information about choice of fund, see:

Do I have to choose?

How do I choose?

How do I get help?

What can Mercer offer me?

More information
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