The following update has been provided by NSF SUPER for ATA Member’s information.
Nationwide Superannuation Fund (NSF) is a superannuation fund named within the
Horse and Greyhound Training Award 2010.
NSF Super is now offering a MySuper option
As part of the government’s review of super legislation, from 1 January 2014, employers must make Superannuation Guarantee (SG) contributions for employees who have not made a choice of fund, to a fund offering a MySuper product, in order to satisfy their SG obligations.
All super funds wanting to offer a MySuper product must apply and be ‘approved’ by the government department responsible for super.
MySuper products will have a simple set of product features, regardless of who provides them, that will enable members, employers and market analysts to compare funds more easily based on a few key differences – cost, investment performance and the level of insurance cover.
NSF Super launched the NSF MySuper option on 1 September 2013. Given that the existing default option already met the majority of requirements for MySuper product features, there were minimal changes required. Current contributing employers to NSF Super don’t need to do anything as a result. All other employers will need to review their super arrangements to make sure they will satisfy their SG obligations.
If you would like more information or assistance, simply call the NSF Super team on 1800 025 241 or email firstname.lastname@example.org