Employers may be able to limit super choice
The Australian Consumers Association said that government regulations over choice of superannuation fund appear to allow employers to restrict the freedom of employees to choose. In theory, from July, almost all employees will be able to tell their employers of their choice of super fund. However, if the super fund requires the employer to send the funds in monthly, the employer won’t have to do so. The regulations require that employers make super payments at least quarterly. This means employees may miss the benefit of compound returns from more frequent super payments.