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This form is for employees entitled to a defined benefit in a superannuation fund and who are eligible to choose their superannuation fund. It provides options for employees to either keep their current
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How to fill out choice of superannuation fund

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How to fill out Choice of superannuation fund

01
Gather your personal information, including your tax file number (TFN).
02
Obtain the Choice of Superannuation Fund form from your employer or online.
03
Fill in your name, address, and contact details in the designated sections.
04
Provide your TFN and date of birth as required.
05
Specify the superannuation fund you wish to choose by providing its name and unique identifier.
06
Indicate whether you already have an existing superannuation fund, if applicable.
07
Review the information entered for accuracy.
08
Sign and date the form to confirm your choice.
09
Submit the completed form to your employer or the designated authority.

Who needs Choice of superannuation fund?

01
Employees who want to choose a superannuation fund rather than being assigned to a default one.
02
Self-employed individuals looking to manage their retirement savings.
03
Individuals changing jobs and wanting to maintain their current superannuation fund.
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People Also Ask about

Superannuation (super for short) is a long-term investment that grows over time. The more you contribute during your working life, the more you'll have for your retirement. For most people, super begins when you start work and your employer starts paying a percentage of your salary or wages into your super fund.
WHAT IS CHOICE OF SUPERANNUATION FUND? Choice of superannuation fund is a new law that gives many employees the right to choose which superannuation fund will receive their employer superannuation contributions.
Basically, there are five main types of funds: retail funds, public sector funds, corporate funds, self-managed funds and, our favourite, industry super funds.
The first step in choosing a super fund is to understand your financial situation and objectives. That includes decisions like when you plan to retire and how much investment risk you're willing to take. It's important to consider: Risk appetite – how much risk are you comfortable with or willing to take on?
As at 31 March 2023, total member assets of the Superannuation Industry were $2.1 trillion^, spread across 1,161 superannuation products and 22.2 million member accounts. Of the 1,161 superannuation products, 69 were MySuper products*, 954 were Choice products and 138 were defined benefit products.
About Super Fund Lookup Super Fund Lookup (SFLU) contains publicly available information about: all self-managed super funds (SMSFs) with an ABN. funds regulated by the Australian Prudential Regulation Authority (APRA).
Basically, there are five main types of funds: retail funds, public sector funds, corporate funds, self-managed funds and, our favourite, industry super funds.
Best Superannuation Strategies Transition to Retirement Pension. Downsizer Contribution. Recontribution Strategy. Account-Based Pension. Maximise Age Pension Income. Consolidating Super. Carry-Forward Contributions. Bring-Forward Rule.

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Choice of superannuation fund is the option for employees to select their own superannuation fund for their retirement savings, rather than being assigned to a default fund by their employer.
Employees who are eligible to choose their own superannuation fund must file the Choice of superannuation fund form to indicate their preference.
To fill out the Choice of superannuation fund form, provide your personal information, including your name, address, and tax file number, then specify the preferred superannuation fund details, and submit the form to your employer.
The purpose of Choice of superannuation fund is to give employees control over their retirement savings by allowing them to select a fund that best suits their investment preferences and goals.
The Choice of superannuation fund form must report the employee's personal details, the name of the chosen superannuation fund, the fund's unique identifying number, and any other required declarations or acknowledgments.
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