In order to update your super fund details within the employee portal you simply need to click the icon on the left side menu and then click on "Super Funds":
The Super Funds screen allows you to manage your super fund details. You can control how much of your super goes into a super fund by specifying a percentage or a fixed amount.
Adding a Super Fund
If your employer has enabled the appropriate setting, you will also be able to add super fund details. To do this, click on "Add Super Fund", then "Choose Super Fund" where the following popup will appear:
Regulated: Regulated funds are complying super funds regulated by the ATO or APRA, such as your more popular industry funds. If you are an existing member of a regulated super fund, enter the super fund name (or ABN of fund or USI of fund) and click on "Search". A list of results will appear. Click on the correct fund:
You will then be prompted to enter your super member number. By default, 100% of your super contributions will be paid into this fund. You can however add more than one super fund and configure what portion is to be allocated to each fund. To do this click on "The entire balance" to access the dropdown list of other options. Select the applicable option, enter the number and then click on "Save".
Self Managed: Self managed funds are super funds where the members are usually also the trustees. This means that members of a self managed fund run it for their benefit and are responsible for complying with applicable super and tax laws. If you are a member of a self managed super fund, click on the "Self Managed" tab and complete the details of the fund. Please note:
- The only fields that are NOT compulsory are "Fund Email" and "External Id";
- If the other fields are not completed, you will be unable to save the details;
- Further details on the requirements of having an ESA can be found here.
Employer Nominated Fund: This option will appear if your employer has added their default super fund details. If you do not have a super fund or prefer to use your employer's default fund, click on the "Employer Nominated Fund" tab. A list of one or more funds will appear - select which one you prefer and then click on "OK":
You will notice that the member number field is blank. This is OK as you are a new member to the fund and obviously don't have a member number yet. Your employer will set you up under the super fund and you receive a welcome starter pack from the super fund. This will contain your member number and you can then update your super profile accordingly.
Deleting a Super Fund
In order to delete super fund details, you simply click on the 'Delete this Super Fund' option:
You will only be given the option to delete a super fund if you have more than one super fund setup in your profile.