It means instead of employers telling employees which super fund their contributions will be paid into, the employee can to the employer which fund the contributions are to be paid to.
A potential admin nightmare for employers as they but it should remove the problem of people having half a dozen super funds floating around as they are forced to join a new fund with each change of employment.
As well it is the employees money so they should hve the right to say where it will be invested
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Zac Komur, MD & CEO
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MD & CEO
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