This person does not have a super account as he has fully drawn out his super, he said.
We can put it in our default fund, with his consent. Wondering why we should ask consent, because he will simply be exposed to fund charges.
Due to his age, can we pay this to his normal wage account (as he is eligible to withdraw his super anyway)?
Hi @Jay3,
I understand where you are coming from, but you have requirements as an employer. You won't be able to make these payments to their normal bank account. Super guarantee (SG) contributions are payments employers must make to their employees' complying funds or retirement savings accounts to avoid the SG charge.
You can pay employee SG contributions electronically to either a:
The employee will need to let you know if they would like to use your default fund or a preferred fund.
Hi @Jay3,
I understand where you are coming from, but you have requirements as an employer. You won't be able to make these payments to their normal bank account. Super guarantee (SG) contributions are payments employers must make to their employees' complying funds or retirement savings accounts to avoid the SG charge.
You can pay employee SG contributions electronically to either a:
The employee will need to let you know if they would like to use your default fund or a preferred fund.
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