Thursday, October 9, 2008
What must I tell my employees about superannuation?
As you would already know the requirement to give employees a quarterly statement of how much super you paid into their chosen fund was discontinued in 2005.
However, you are required to tell your employees the default fund into which their super contributions will be paid within 28 days of them starting work with you. You are also required to add the name of the fund and the amount of super contribution on the employee's payslip if you are covered by the Workplace Relations Act.
These laws, relating to super contributions, are administered by the Department of Employment and Workplace Relations. You can obtain further information about these laws by going to www.dewr.gov.au.