Choice of fund start date deferred

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Choice of fund start date deferred

The commencement date for the Government's legislation relating to superannuation choice of fund has been deferred due to a backlog of legislation in the Senate.

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The commencement date for the Government's legislation relating to superannuation choice of fund has been deferred due to a backlog of legislation in the Senate.

The superannuation choice of fund legislation was due to commence 1 July 1999 with respect to new employees. Also due to commence on this date was the Superannuation Guarantee Scheme 'opting out' legislation (allowing lower paid workers to opt out of SG Scheme). This Bill has also been held up in the Senate.

New start dates for the legislation have not yet been announced.

 

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