Superannuation is built for members but it is still Employers and their payroll teams in that frontline, and that is why the latest weapon of choice is SelectingSuper Employer Central.
When new employees join a company it is the payroll team who have to sort out the details, hand out the super fund choice forms, and chase them up from employees.
|85% of all superannuation payments pass through payroll
Roy Morgan Research's latest superannuation report found that 85% of superannuation products are obtained through employers, and that this proportion is going up as in 2004 it was around 80%.
And if payroll managers weren't already busy enough with superannuation, upto 5% of employees now actively switch between super funds each year and 20% of employees change jobs each year.
Making the job even harder is employees may not even know what super funds they are a member of, let alone know their membership or account number or their fund's identification.
Making the most of Employer Central
There are seventeen (17) chapters of information on this website accessible from the left-hand directory.
Employer Central draws on a full range of information about Employer Superannuation from sources published by the Australian Tax Office, official Federal Government Budget Papers, financial regulations authorities, industrial relations departments, Financial Standard and SelectingSuper.
And that is just the start because when company employees want to change their Superannuation details, vary their contribution amounts or get information about what they can do with their super to get the best value out of it, it is often the payroll managers that are meant to sort this out as well.
The following sections contain comprehensive articles and resources to help make your job a little easier.