Your super responsibilities

Paying super is an important part of your responsibilities as an employer – your contributions form an essential part of your employees' retirement savings. And MLC is here to help.

Super choice requirements

You must provide eligible new employees with a standard choice form (PDF, 350KB) within 28 days of starting work. Employees can elect to join your default fund (MLC MasterKey Business Super), or have contributions made into their other existing choice fund if they have one.

If your new employee doesn’t choose a super fund, you are required to make contributions to the employee’s ‘stapled’ super fund (if they have one). A stapled fund is usually the super fund which received the employee’s most recent contribution.

The ATO is responsible for identifying an employee’s stapled super account and providing you with the required account information to contribute to that fund. To search for an employee’s ‘stapled’ super fund, or determine if they have one, log into the ATO Services website and search for your employee using their payroll information.

Providing your employee’s TFN

By law, you must pass on an employee's Tax File Number (TFN) to us within 14 days of you receiving a TFN declaration from them, or from when you make the first contribution payment to us after receiving the TFN, whichever occurs last. If we don't have the employee’s TFN they may:

be taxed an additional 34% on their super contributions (including the Medicare Levy and Temporary Budget Repair Levy)
be ineligible to make personal contributions, and
miss out on any government co-contributions they could be eligible for.

Super Guarantee contributions

Employers are generally required to contribute 10.5% of their employees’ ordinary time earnings into super. These are known as superannuation guarantee (SG) contributions. SG contributions are employer contributions. They are generally taxed at up to 15%¹ in the fund and count towards their concessional contribution cap. The 10.5% is legislated to increase by 0.5% each year financial year until it reaches 12% from 1 July 2025.

^{1 Individuals with income from certain sources above $250,000 in 2022/23 will pay an additional 15% tax on superannuation guarantee and other concessional super contributions within their cap.}