Freedom of Choice

Choice of superannuation fund is the right for certain employees to direct employer Superannuation Guarantee Contributions, made in respect of the employees, to a complying superannuation entity of the employee’s choosing.

YOU DO NOT HAVE TO CHOOSE A NEW SUPER FUND

You can stay in your current fund so long as it is a complying fund under Choice.
The risk some employees may run when moving funds is that they may not be eligible for the same level of insurance cover (or any at all).
They may also be faced with unexpected entry or exit fees.
To ensure you make an informed decision about your superannuation, contact LifeGuard before making any changes.

CHOICE APPLIES TO SUPERANNUATION GUARANTEE CONTRIBUTIONS ONLY

Any additional employer, salary sacrifice and personal undeducted contributions remitted or paid by an employer are not required to be contributed to an employees chosen fund. However these can be paid to the employee’s chosen fund at the employer’s option.

HOWEVER

Choice is not available to:

Some public sector employees
Some defined benefit fund members
Contributions made in accordance with:
- Australian Workplace Agreement or Certified Agreement (Workplace Relations Act 1996)
- Certified Agreement (Industrial Relations Act 1988)
- State Industrial Award (Note Government direction to States)
- Law of Commonwealth, State or Territory

If you are not sure of your eligibility contact LifeGuard.