Thursday, October 23, 2008

What if an employee wants advice?

What if an employee wants some superannuation advice? Can I give that person any pointers on super issues?

Quite frankly, no, you cannot give any employee advice on superannuation unless of course your company holds a Financial Services Licence. If an employee does need superannuation advice point her/him to an adviser from the super fund to which he belongs, or get her/him to seek advice from a professional in the Industry. One of the best sources of advice is for your employee to contact their industry super fund.

But no, you must not give any super advice without the proper credentials. So if your employee wants to salary sacrifice, or needs to know how to choose a fund, or any other advice that may be needed, this advice must not come from you.

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