Choice of Clearing House

Lyn_10072495
Lyn_10072495 Member Posts: 67 Reckoner Reckoner
in Accounts Hosted

Ive just started delving into this today. My confusion is when it comes to choosing a new clearing house. A lot of the info states that its a free service IF I choose that particular company as my defualt Super fund. We are a small company with 4 employees all who have their Super with different funds.

How do I manage this and move forward?

Answers

  • Kris_Williams
    Kris_Williams Member Posts: 4,353 Reckon Hall of Famer Reckon Hall of Famer

    itโ€™s the same as the ATO clearing house, the default fund means that if you have to setup a super fund for an employee who hasnโ€™t got one you will use the default one

  • Rav
    Rav Administrator, Reckon Staff Posts: 14,377 Reckon Community Manager Community Manager

    Hi @Lyn_10072495

    My general understanding is that if you go with a chosen clearing house and set them as your default super fund, then that can be a potential option for new employees you take on board who don't have their own super fund.

    I believe there is no obligation or requirement for an employee with an existing super fund to switch over to that default fund.

  • Lyn_10072495
    Lyn_10072495 Member Posts: 67 Reckoner Reckoner

    Thanks Kris. That makes sense. ๐Ÿ˜Š

  • Lyn_10072495
    Lyn_10072495 Member Posts: 67 Reckoner Reckoner

    Thanks Rav. I understand now. ๐Ÿ˜Š

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