Understand and manage your superannuation

My employer's responsibilities

When it comes to superannuation, your employer has two main responsibilities: 

• Making sure your superannuation is correctly calculated
• Paying it on time
   

How is superannuation calculated?

Your superannuation is calculated at 12% of your qualifying earnings for each pay period.

• For example, if your qualifying earnings for a pay period are $1,000, your employer would contribute $120 to your superannuation fund. 

Qualifying earnings is the term used to describe the payments that count toward your superannuation calculation, and can include:

• Ordinary time earnings and paid leave (such as annual leave, sick leave, and long service leave)
• Commissions 
• Bonuses paid in relation to your ordinary hours of work 
• Certain allowances (note that expense-based allowances are generally excluded)

Who is eligible for superannuation?

Superannuation applies automatically to all employees, whether you're casual, part-time, or full-time, with a few exceptions. 

If you're under 18, you're entitled to superannuation in any week where you work more than 30 hours.

When is superannuation paid?

From 1 July 2026, with the introduction of Payday Super, your employer is required to pay your superannuation every payday. Those funds must be received by your superannuation fund within 7 business days of your pay date.

You can read more about Payday Super on the ATO website.
 

My responsibilities

While your employer takes care of making superannuation contributions on your behalf, there are a few things worth staying on top of from your end.

• Keep your superannuation details up to date in foundU - If your superannuation fund has changed, merged with another fund, or updated its USI, it's important to update your details in foundU as soon as possible to make sure your contributions are going to the right place. 

• Check your superannuation balance regularly - You can see the superannuation applied each pay period at the bottom of your payslip in foundU. 

   

  • It's also a good idea to log in to your myGov account and check through the ATO portal to make sure contributions are coming through to your fund correctly.
• Consider consolidating multiple funds - If you've built up more than one superannuation account over the years, it's worth looking at merging them into one. Having a single fund means you're only paying one set of fees, which can make a real difference to your balance over time. 
  • If you do consolidate, make sure your updated fund details are reflected in foundU. 

  • The ATO has a helpful guide on transferring or consolidating your superannuation.

     

Onboarding and superannuation

When you start with a new employer who uses foundU, you'll go through an onboarding process to capture your details and complete your profile. As part of that, you'll need to set up your superannuation details.

Your superannuation details will need to be added after you've submitted your Tax File Number (TFN) declaration. If you haven't done this yet, you'll be prompted to complete it first. 

Don't worry if you don't have a TFN; you can still add your superannuation details once your TFN declaration has been submitted.

What is superannuation stapling?

Superannuation stapling is a government initiative designed to reduce the number of superannuation accounts you accumulate over your working life. Rather than signing up to your new employer's fund when onboarding in foundU, your existing superannuation fund is "stapled" to you and made available when you onboard.

Once you've completed your TFN declaration, your employer can request your stapled fund details directly from the ATO, so you don't need to look up your fund details if you'd prefer to stick with your existing account.

You can read more about superannuation stapling on the ATO website.

Your superannuation options during onboarding

You're not locked into your stapled fund; you have a few other options when setting up your superannuation in foundU. You can choose from:

• Default fund -  If you're new to the workforce or don't have an existing fund, you can opt into your employer's default superannuation fund.
• Existing fund - You can enter the details for a superannuation fund of your choice. If you have multiple superannuation funds, keep in mind that stapling will only apply to your most recent fund.
• Self Managed Super Fund (SMSF) - If you manage your own superannuation, you can enter your SMSF details.
• Stapled fund - If you initially selected a different option but would like to use your stapled fund after all, you can reselect this during onboarding.

Once your onboarding is complete and approved, you can update your superannuation details at any time through foundU.

Updating my Superannuation fund details

Sometimes, you may need to update your Superannuation account details. This could be due to a fund switch or changes with your provider, such as a merger or a USI update.

If this is the case, you'll have several options to choose from when updating your superannuation details. 

Employer's Default Fund

If you would like to join a new super fund, you can optionally choose to select whichever super fund your employer's default super fund is.

1. Select 'Default Fund'. The application and details will be handled for you automatically. 
2. Scroll to the bottom and select Update to save.

Existing Super Fund

1. Select 'Use my own fund' and then 'Existing fund'. 
2. Use the Super Fund field and type in your existing fund; this will filter your list. 
3. Enter your membership number.
4. Scroll to the bottom and select Update to save.

Self Managed Super Fund (SMSF)

1. Select 'Use my own fund' and then 'SMSF'. 
2. Enter your Electronic Service Address, ABN, Account Name, Account Number, and BSB.
3. Scroll to the bottom and select Update to save.

Superannuation contributions

If you wish to grow your retirement savings, you can contribute additional funds to your superannuation scheme through superannuation contributions. This can be a beneficial choice for those looking to improve their financial security during retirement.

For further reading on Superannuation Contributions, please refer to this article from the ATO. 

There are 2 options available:

• Salary sacrifice - This is taken out of your gross (pre-tax) pay and can be either a dollar value ($) or a percentage (%)amount. 
• Additional personal contributions - These are taken out of your net (post-tax) pay and are dollar-value ($) amounts. 

To make use of salary sacrifice (pre-tax) contributions:

1. Select either a dollar value ($) or percentage (%) and enter the amount that will be salary sacrificed each pay. 
2. Scroll to the bottom and select Update to save.

To make use of Employee Personal Super (post-tax) contributions:

1. Select the dollar amount ($) that you would like to contribute to your superannuation per pay period. 
2. Scroll to the bottom and select Update to save.