1.7 Which fund will I join?

Generally, Samson cannot choose which fund he joins, as this is determined by his employer. If Samson or his employer is not eligible to make mandatory contributions, he can join an approved superannuation fund that provides a voluntary savings facility, for example NASFUND offers Eda Supa and Nambawan Super offers Choice Super and the Aon Master Trust. 

If employees of a particular employer wish to move to another fund, they must vote to do so. If 75% or more of the employees vote to move, the transfer can take please. This process is supervised by the Electoral Commission. The Employer must also agree to transfer to another ASF and if the transfer has been accepted, the employer must advise BPNG within 14 days of the decision.

If Samson changes employers, and his new employer uses a different fund, he can move his superannuation savings from his old fund to the new fund. This is called a rollover.




Complete and Continue