Award default superannuation funds

The Fair Work Amendment Bill has been introduced in to the House of Representatives.

Amongst other things the Bill will, if passed:

  • introduce new requirements in relation to modern award terms about default superannuation, and a process under which the Fair Work Commission will review default fund terms every 4 years, at the same time as the 4 yearly review of modern awards (the first such review must be conducted as soon as practicable after 1 January 2014), and
  • provide for the establishment of the Expert Panel to assess default superannuation funds.

A Full Bench of the Fair Work Commission will then determine which particular funds from the Default Superannuation List are best suited for inclusion in each modern award.

UPDATE 1 November: The Bill has been passed by the House of Representatives.

Apart from the default super fund changes the Bill also covers changes to the unfair dismissal provisions discussed here.

UPDATE 2 November: The Senate Education, Employment and Workplace Relations Legislation Committee has a new inquiry into the Bill.

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