Stapled super funds: What you need to know
Updated on 16 January 2025 | 2 minute read
'Super stapling' is how your super follows you from job to job. Learn more about stapled super funds, and how it could mean more savings for retirement.
What is super stapling?
Super stapling is a bit like your super account being 'stapled' to you as you move between jobs. It means that your existing super fund follows you when you start a new job, unless you choose a different fund.
The Australian Government introduced super stapling in November 2021. It aims to reduce the number of unnecessary super accounts and help you avoid paying multiple sets of fees. And money that you save on fees can mean more money for your retirement.
How does super stapling work?
When you start a new job, if you don't nominate a preferred super fund, your employer now has to check with the Australian Taxation Office (ATO) to see if you have an existing super account.
If you do have an existing fund registered, that fund becomes your 'stapled' fund and your new employer will pay your super contributions into it. This way, you're less likely to end up with multiple super accounts that you might forget about.
Why super stapling can be helpful
Super stapling can be a real game-changer for your retirement savings. Here's why:
Less paperwork
You don't need to fill out new super fund paperwork every time you change jobs.
Fewer fees
With just one main account, you're not paying multiple sets of fees that can eat into your balance.
Potentially more super
By consolidating your super into one account, you could end up with more money in retirement. Before you consolidate, think about whether it's right for you. You could lose access to benefits such as insurance or pension options, and you need to consider tax implications.
Things to think about when changing jobs
While super stapling has its benefits, there are a few things to keep in mind:
Insurance cover
Your stapled fund's insurance might not suit your new job or your personal situation. It's worth checking if you need to adjust your cover.
Performance
Just because a fund is stapled doesn't mean it's the best performer. It's always good to review your super regularly.
Are you changing jobs?
Continue to build on the super you’ve already invested with us by taking your ART account with you.
If you're an employer
Need a refresher on what super stapling means for you and your employees? We're here to support you through the process.
FAQs about super stapling
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