Is your super Fund RSE registered?

You may have heard that super funds must have an RSE licence from 1 July. Without an RSE, funds won't be able to accept SG contributions from your employer.

RecruitmentSuper has had a RSE number since October 2005, so our members and employers can relax knowing their super is in an appropriately licensed fund. You don't have to do anything for the 1 July changes.

I have money in another super fund as well. What should I do?
You can check if a fund is RSE registered at http://www.apra.gov.au/rse/index.cfm This applies to funds you have chosen yourself or an employer has chosen for you.

If your other fund doesn't have an RSE number, you can roll over those super accounts into your RecruitmentSuper account via a roll in form.

You can inform your employer about a new Choice of Fund by completing a Standard Choice Form. Explain that you are making a new Choice to comply with RSE registration as employers otherwise don't have to accept more than one Choice in any 12 month period.

Your employer may contact you and request you chose a new fund if your current fund isn't RSE licensed.

What if I use my employer's default fund?
You may not have chosen a super fund and instead been making use of your employer's default fund. The RSE restrictions also apply to default funds so your employer may need to change default funds.

You can wait for your employer to change default fund or you can Chose an appropriately licensed fund such as RecruitmentSuper by completing a Standard Choice Form.

 

 

Employers - please read our May SuperSolutions for details about your responsibilities regarding the RSE changes.