Default super fund¶

Definition. A default super fund is the fund an employer pays into for an employee who has not chosen a fund and has no stapled fund, and it must be authorised by the ATO to offer a MySuper product.

In plain English¶

If a new employee does not choose their own super fund and does not have a stapled fund, the employer pays their super into the business's default fund. A default fund has to offer a MySuper product, which is a simple, basic super account without extra features. The employer picks this fund ahead of time so there is always somewhere to pay super.

Related lessons¶

• Default super funds

General information only — not tax, super or financial advice.