What is a default fund?
A default fund is the fund where contributions will be paid if your employee doesn’t make a choice. Under the legislation, you must nominate a default fund on the standard choice form you provide to your employees.
The default fund you nominate must:
How do I choose a default fund?
As an employer, you should consider the following when selecting your default fund:
Making contributions and enrolling and terminating employees to multiple funds can increase your workload. An ideal default fund can ease your workload on these administrative tasks by providing a clearing house solution.
