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Your Future, Your Super

The Your Future, Your Super legislation introduces measures aimed at improving the superannuation system for all Australians. These include the new Annual Performance Test for MySuper products, the Best Financial Interests Duty that requires all super fund trustees to act in the best financial interests of fund members and the introduction of single default superannuation accounts or ‘stapling’.

What employers need to know

Superannuation fund 'stapling'

The stapling measure will change the way employers set up super payments for new employees:


Many workers join their employer’s default super fund when they start a new job regardless of whether or not they already have an account with another fund. This has caused many Australians to have multiple super fund accounts, which could see them paying multiple fees and insurance premiums, sometimes unnecessarily, which has been a focus of regulators over recent years.

The stapling measure under the Your Future, Your Super reforms aim to reduce the creation of multiple unintended accounts when workers start new jobs, resulting in the erosion of super balances.* From 1 November 2021, new employees will be ‘stapled’ to their existing super fund, unless they choose a different fund via the ATO’s Standard Choice (or an equivalent) form. First-time entrants to the workforce will be ‘stapled’ to the first super fund they join. This may be a fund they have chosen, or the default fund used by their first employer.

If a new employee has a ‘stapled fund’ and does not nominate a fund of their choice, employers will need to contribute to the employee’s stapled super fund, rather than the employer’s default fund. If the new employee doesn’t have a stapled fund, and they don’t wish to nominate a fund to be stapled to, the employer can join that employee into the employer’s chosen default fund.

New employees can continue to nominate a super fund of their choice, including the employer’s default fund, and provide this instruction to their employer on commencement.

Treasury has issued draft regulations which will provide a definition of a ‘stapled fund’, including tie-breaker rules for determining which fund is to be an employee’s stapled fund where they have multiple existing funds. Once we have further information, we will share this with you.

‘New starter’ documents

Statewide Super has developed a new ‘Nominating a Superannuation fund’ form which can be used in conjunction with the ATO Superannuation Standard Choice form for new employees. We have also updated our Induction booklet. These  documents can be located in our Employer Hub, at

New ‘YourSuper’ comparison tool

On 1 July 2021 the ATO introduced a new ‘YourSuper’ comparison tool to allow individuals to compare key data on MySuper products.
The online tool, ‘YourSuper’, enables individuals to compare the fees and performance of MySuper products to help them choose a quality fund that will meet their needs.

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