Industry funds may be excluded from super choice
There won’t be as much choice of supernnuation fund available to employees from July as was first thought, with the federal government giving employers the right to decline to contribute to an employee’s fund of choice if the fund requires that they make regular payments. Most industry superannuation funds require employers to become participating members, and then make contributions monthly. Many master trusts allow employers to contribute only quarterly. One alternative would be for employees to join their industry fund of choice under the public offer option.