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December 15th, 2020
What’s on the super horizon for employers in the new year? Here’s a round-up of what you can expect from both the Government and First Super.
From 1 January 2021, workers can no longer be forced into an employer’s chosen super fund under any new enterprise bargaining agreements (EBAs) or workplace determinations. (Existing arrangements will still apply until the next time they are negotiated.)
This change means employers must offer all new employees a Standard Choice form so they have the option of choosing their own super. You’ll still need to have your default super fund, First Super, in place for any workers who don’t make a choice.
Read “Changes to super choice laws” for more information.
If the Government’s super-related Budget proposals go ahead, super fund members could wind up being “stapled” to their first super fund. This change is designed to stop people having a new super account created for them at each workplace.
The person’s first fund (or whichever fund they choose to join) would follow them from job to job. As an employer, you would still need to offer a default super fund, but the focus would switch from setting up new super accounts for workers to paying into an employee’s existing account.
The Government is aiming to introduce this change by 1 July 2021.
After a disrupted 2020, our Member and Employer Services Coordinators are keen to get back on the road to support you and your employees in person with your super obligations and decision-making.
Our Coordinators can visit your workplace and help your staff on a range of topics, such as:
Have a different topic in mind? Let us know what you’d like to hear about.
Our Coordinators are based in offices around Australia, meaning we can plan workplace visits flexibly around your busy schedule. To arrange a visit call us on 1300 943 171 or email us.
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