A look into the changing world of superannuation
A constant stream of legislation has been introduced over the past decade to enhance the choice, efficiency and governance of the Australian superannuation system. With so much change it is worth reflecting on the impacts of these on your employer superannuation arrangements.
Over the past 10 years, employers have outsourced their once prized corporate superannuation plans to mastertrusts and industry funds, employees are able to choose their fund and those who do not are placed into an employer’s chosen default fund or a fund nominated by an industrial agreement. We have also seen the range of investment options and trust structures available to employees including Self-Managed Superannuation Funds increase significantly.
Greater choice has led to more complexity in payroll and human resources teams and a dilution of scale to employer default superannuation arrangements.
This guide has been prepared to help employers evaluate existing default superannuation plan arrangements to ensure they align closely to the vision and strategy of the business.
- History of Australian Superannuation System
- Superannuation Guarantee (SG)
Chris Chan, Head of Corporate Superannuation, +61 8663 6292