Award Super Funds Updated
The Fair Work Commission has updated 125 modern awards to reflect changes in the superannuation industry.
Over time, some awards have included super funds that have merged, closed, or changed names. This created inconsistencies between the award wording and the funds that actually operate today.
This review was carried out to ensure the default fund lists in awards remain accurate and up to date.
What Has Changed
Old fund names were removed: Some default funds listed in awards no longer exist in their original form. These names have now been removed.
Current fund names were added: Awards now list the correct, active super funds that employees can be paid into if they do not nominate their own.
The default fund lists are now consistent: This helps reduce confusion for payroll teams and employers when setting up new employees.
No change to super obligations: There has been no change to Super Guarantee rates, employer obligations, or payment timing. This update only affects fund names.
Nothing else in the superannuation clauses of awards was altered as part of this process.
What This Means for Business Owners
For most businesses, this change will not affect how super is calculated or paid. It simply means the default super fund listed in some awards may now appear under an updated or different name.
If an employee does not choose their own fund, the employer must still use the default fund listed in the relevant award. Because some fund names have been updated, it is a good time to check that your onboarding documents, employment contracts, and payroll software reflect the current fund names used in the award.
Your bookkeeper can help review payroll settings, confirm that the correct award default fund is being used, and ensure any outdated fund names are updated in your records. This helps avoid confusion when setting up new employees and ensures super contributions are directed to the correct, active fund.
Source: Changes to default super funds in awards – Fair Work Ombudsman
or more information or assistance with any bookkeeping, reporting or BAS needs call Sue Esplin – 02 4339 7870.
