Superannuation stapling

Stapling legislation aims to help reduce the creation of multiple super accounts when people change jobs. 

Before 1 November 2021, if you started a new job and didn’t let your employer know where your super should be contributed to, they would create another super account on your behalf. This led to millions of Australians having multiple super accounts, with retirement savings potentially impacted by paying multiple sets of fees. .

An overview of stapling

The stapling legislation now requires that the Australian Taxation Office (ATO) ‘staple’ your active super account to you, so it follows you from job to job. 

If you start a new job and don’t tell your employer where your super should go, your employer will contact the ATO via the Online Services portal to confirm which super account the ATO has ‘stapled’ to you and should be contributed to.

Considerations for super members

It’s important to remember that which super fund your employer contributes to and how many super accounts you hold is ultimately up to your choice.

We recommend you take the time to review the fees and performance of any super accounts you may hold from time to time to help ensure that it is right for you – the long-term effect on your super balance over the course of your career could be significant.

Multiple super accounts

If you would like help tracking down any other super accounts you may hold you can log in to the ‘Find my Super’ page of your Mercer Super Trust (MST) online account where we can help locate any other accounts you have within minutes. 

If you decide to consolidate them all into your Mercer Super account, you can do this online by navigating to the ‘Consolidate’ page. By consolidating all of your funds into your MST account, it will then become your stapled account.

If you opt to have multiple accounts and you have a preference as to where your employer contributes your super, we recommend you complete either our choice form or, if your employer doesn’t use the Mercer Super Trust as a default fund, the ATO’s standard choice form.

Seeking advice

Prior to consolidating any accounts we recommend seeking financial advice. As part of your membership, our Helpline Advice team can provide financial advice about your super fund at no additional cost. You can make an appointment with this team by calling our Helpline on 1800 682 525 between 8am-7pm (AEST/AEDT), Monday-Friday.

Disclaimer: This content has been prepared and sent on behalf of Mercer Superannuation (Australia) Limited (‘Mercer Super’), ABN 79 004 717 533, Australian Financial Services Licence #235906, the trustee of the Mercer Super Trust ABN 19 905 422 981. Any advice contained in this content is of a general nature only, and does not take into account the personal needs and circumstances of any particular individual. Prior to acting on any information contained in this content, you need to take into account your own financial circumstances. Please consider the Product Disclosure Statement, Product Guide, Insurance Guide, and Financial Services Guide before making a decision about the product, or seek professional advice from a licensed, or appropriately authorised financial adviser if you are unsure of what action to take. 'MERCER' is a registered trademark of Mercer (Australia) Pty Ltd ABN 32 005 315 917. Copyright 2022 Mercer LLC. All rights reserved.