Is Your Payroll Using a Super Fund That No Longer Exists?

It sounds like an unusual question, but for some businesses the answer could be yes.

The Fair Work Commission has updated 125 modern awards after finding that several default super funds listed in those awards had merged, closed, or rebranded. If your payroll setup hasn't kept pace, you could be referencing a fund name that is no longer active.

What the Change Involves

• Old fund names were removed

Some default funds listed in awards no longer exist in their original form due to mergers, closures, or rebrands. Those names have now been taken out of the relevant awards entirely.

• Current fund names were added

In their place, awards now list the correct, active funds that employees can be paid into if they do not nominate their own.

• Default fund lists are now consistent

With accurate fund names across all affected awards, there is less room for confusion when setting up new employees.

• Super obligations have not changed

There has been no change to Super Guarantee rates, employer obligations, or payment timing. This update only affects fund names.

Why It's Worth a Quick Check

If an employee hasn't nominated their own super fund, you're required to use the default fund in their award. With fund names now updated across 125 awards, there's a real chance your onboarding documents, employment contracts, or payroll software are still showing an outdated name, which can mean contributions aren't directed to the right place.

What to Do Next

Take a moment to check that your payroll setup reflects the current fund names in your relevant awards. Not sure where to start? Reach out to us and we'll review your settings and make sure everything is accurate and up to date.

Disclaimer: The information in this article is general in nature and should not be relied upon as advice specific to your circumstances.