Choice of Fund

From 1 July 2005, Choice of Fund laws allow many Australians to choose which super fund will receive the 9% Super Guarantee (SG) contributions that their employers make on their behalf.

Because of numerous exemptions in the legislation, Choice of Fund does not apply to many people in the higher education and research sector. Most university employees are covered by an Australian Workplace Agreement (AWA) or Enterprise Bargaining Agreement (EBA) that already stipulates the payment of superannuation.

As such they are exempt from the Choice of Fund rules.

Other exemptions include:-

• If your super is paid under a State award or industrial agreement.

• If you're in a Defined Benefit Scheme, e.g. SSS, SASS and UniSuper DBP.