the superannuation guarantee started in australia in 1997.
the superannuation guarantee started in australia in 1997.
when did the superannuation guarantee start in australia?
1997
where an employee has not elected to choose their own fund, employers must since 1 january 2014 make "default contributions" only into an authorised mysuper product, which is designed to be a simple, low-cost superannuation fund with few, standardised fees and a single balanced investment option.









































section::::superannuation industry.









































section::::superannuation industry.:legislation.









































superannuation funds are principally regulated under the "superannuation industry (supervision) act 1993" and the "financial services reform act 2002". compulsory employer contributions are regulated via the superannuation guarantee (administration) act 1992









































section::::superannuation industry.:legislation.:superannuation industry (supervision) act 1993 (sis).
superannuation in australia
from 1 july 2005, many australian employees have been able to choose the fund their employer's future superannuation guarantee contributions are paid into. employees may change a superannuation funds. they may choose to change funds, for example, because:









































bullet::::- one when their current fund is not available with a new employer,









































bullet::::- consolidate superannuation accounts to cut costs and paperwork,









































bullet::::- a lower-fee and/or better service superannuation fund, or









































bullet::::- a better performing superannuation fund.
superannuation in australia