Information and advice
What you can tell your employees
You can provide factual information about:-
Your obligations under choice of super fund.
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The employer fund.
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How the employee can nominate a chosen fund.
What you can't tell your employees
You should not make recommendations about:-
Which superannuation fund they should choose.
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The level of personal contributions they pay to superannuation.
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Whether their superannuation should be consolidated.
These recommendations may amount to either general or personal financial product advice. Anyone providing financial product advice is generally required by law to be licensed by the Australian Securities and Investments Commission (ASIC).
Employees can find out more about how to compare and choose superannuation funds from the following independent sources:
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The employee section of this website
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The Australian Securities and Investments Commission's free booklet Super Decisions
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The Australian Securities and Investments Commission consumer website, FIDO, which has lots of general information about superannuation, including a superannuation calculator
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The Tax Office has information about choice of super, lost superannuation accounts, co-contributions, tax rules and self managed superannuation funds
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The National Information Centre on Retirement Investments website for free, independent information about superannuation and tax
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The Financial Information Service run by Centrelink on 13 23 00.