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Superannuation update – regulator updates, legislation and cases - Employment and HR

Single default accounts On or after 1 July 2021, in the absence of a new employee choosing a superannuation fund, an employer must determine whether that new employee has a "stapled fund" and, if a stapled fund exists, contributions should be paid into that stapled fund instead of paying into the employers chosen default superannuation fund. Underperformance in superannuation The Bill proposes a new Annual Performance Assessment, requiring APRA to action annual performance tests each year for M...
New South Wales Senate Economics Legislation Westpac Securities Administration Ltdv Australian Defence Force Retirement Service Provision Financial Services
Source: mondaq.com

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