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What do I have to do?


As the employer, there are certain obligations you must fulfill when offering choice of fund. It sounds scary, but it boils down to nominating a complying fund and providing your staff with the right information and forms enabling them to select a choice of fund. For every employee (and all new employees), you must:

• Establish which employees are eligible to receive “Choice”
• Decide your chosen employer fund so that you can offer it to them (to choose OAMPS, click here)
• Complete Part ‘B’ of the Standard Choice Form
• Distribute the forms to eligible employees
• Record the distribution and receipt of the Standard Choice Form to all eligible employees
• Understand the penalties for not complying with the legislation.

When you receive the forms back from your employees, you then have two months to organize for their future SG contributions to be paid into their nominated fund. If no choice has been made, you must continue to contribute SG contributions to your chosen employer fund.

Who is eligible?
 
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