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Superannuation - leaving a job without it

Superannuation - leaving a job without it

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Old Apr 21st 2009, 10:28 am
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Default Superannuation - leaving a job without it

If you leave a job quite soon before you've chosen your super fund, is it possible to request the old (private) employer to direct the super contributions into the super fund of your new (state government) employer?

Would a state government super fund accept contributions accrued from a private employer? It seems nonsense to set up a non-government pension in the interim (and pay its annual fees) for under three months' work.

Any advice will save my brain from melting altogether. Thanks.
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Old Apr 21st 2009, 12:11 pm
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Default Re: Superannuation - leaving a job without it

Originally Posted by Rainydaze
If you leave a job quite soon before you've chosen your super fund, is it possible to request the old (private) employer to direct the super contributions into the super fund of your new (state government) employer?

Would a state government super fund accept contributions accrued from a private employer? It seems nonsense to set up a non-government pension in the interim (and pay its annual fees) for under three months' work.

Any advice will save my brain from melting altogether. Thanks.
Ask your new employer but I don't believe you can roll over into a government fund. All private sector employees have a choice where their super is invested. Government super funds are different largely because the government makes large co-payments to the employee's super and thus few government employees choose to invest outside the government fund.

SMALL SUPERANNUATION ACCOUNTS ACT 1995 - SECT 3
http://www.austlii.edu.au/au/legis/c...995335/s3.html
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Old Apr 21st 2009, 10:14 pm
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Default Re: Superannuation - leaving a job without it

My wife rolled her private employer super into her federal government super fund.

The annual statement shows it as a seperate item every year.

State may be different to Federal, but I do not actually know.
 
Old Apr 22nd 2009, 12:22 pm
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Default Re: Superannuation - leaving a job without it

Originally Posted by Rainydaze
If you leave a job quite soon before you've chosen your super fund, is it possible to request the old (private) employer to direct the super contributions into the super fund of your new (state government) employer?

Would a state government super fund accept contributions accrued from a private employer? It seems nonsense to set up a non-government pension in the interim (and pay its annual fees) for under three months' work.

Any advice will save my brain from melting altogether. Thanks.
FYI, if you don't nominate a super fund in time some employers will put it in their default fund.
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Old Apr 23rd 2009, 10:09 am
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Default Re: Superannuation - leaving a job without it

Thanks for the advice. I intend to seek advice from the ATO about this tomorrow, so I'll let you know what the official line is on it.

BTW, my employer doesn't have a default super fund - because it's a casual position, employees have to nominate their own fund.
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