Setting up a new employee
To effectively set up a new employee's super, you need to:
- Use the Clearing House: Implement the clearing house system to process superannuation payments efficiently.
- Employees personal contact details: When a new employee starts, it’s important that you use their preferred contact number, personal email and postal address to setup their account.
- Provide the Superannuation Standard Choice Form to enable them to select their preferred super fund. It's essential to inform them about 'stapling', a process where their super contributions are directed to an existing active super account if they don't choose or nominate a fund.
- Key fund details for employers: Keep legalsuper's critical details readily available for smooth superannuation management, such as the fund name, address, ABN, USI, and contact information. Available here
Support for new employees
As an employer, you play a crucial role in helping your new employees make informed decisions about their super. Here's how you can effectively support them:
- Encourage super consolidation: Guide your employees on the benefits of combining their super from previous jobs into one account. Explain how this can simplify their super management and potentially reduce fees.
- Inform about insurance options: Make your employees aware of the various insurance coverages available through us. Highlight how these options can provide financial security for them and their families.
- Provide clear access to information: Ensure your employees have easy access to all necessary information, including the Superannuation Standard Choice Form. Assist them in understanding whether legalsuper is a suitable option for them.
- Explain salary sacrifice benefits: Educate your employees about salary sacrifice and how it can significantly boost their super savings and accrue long-term benefits.
- Recommend personalised support sessions: Encourage employees to utilise complimentary 1:1 sessions with our super specialists. These personalised consultations can offer valuable advice tailored to their super management needs.
- Distribute essential fund details: Keep our fund details readily available for your employees. Ensuring they have this information will aid in informed decision-making and streamline super management processes.
- Promote the use of tools & resources: Introduce your employees to our online tools and resources. They are instrumental in helping them understand and efficiently manage their super.
By actively supporting your employees in these areas, you comply with legal obligations and contribute significantly to their financial security and future. Remember, a well-informed employee is more likely to be satisfied and engaged in their workplace, making your support in these matters invaluable.
Additional information for employee onboarding
When new employees join your company, they must provide their personal details, including their tax file number (TFN) and choice of superannuation fund, usually via the Standard Choice Form from the ATO. Employers should add these details to their payroll system to ensure accurate and timely superannuation contributions. Regular updates and reviews of superannuation details are recommended for employers and employees to maintain compliance and effective retirement planning.
As your partner in business, we're committed to onboarding your employees as easy and stress-free as possible, ensuring their superannuation is well-managed and aligned with their future financial goals.
