MySuper Product definition
Examples of MySuper Product in a sentence
Member a person admitted as a member of the Fund and who has not ceased to be a member of the Fund under clause 7.3. MySuper Product has the same meaning as in the SIS Act.
If an employee does not nominate a complying superannuation fund, then the Company will direct the superannuation contributions to the employee’s account in the complying Company default fund with SunSuper, which provides a MySuper Product.
Boral will continue to make contributions into ▇▇▇▇▇’s default superannuation fund (currently Boral Super, a sub- plan of the PLUM Superannuation Fund, an MLC Super Fund (product identified 70 732 426 024 883) which is a fund that offers a MySuper Product (Boral Super).
Such contributions shall be paid into the fund nominated by the Employee or if no fund is nominated by the Employee; a) into the stapled fund nominated by the ATO, or if there is no stapled fund, b) into the default fund nominated by the Employer that is a complying fund offering a MySuper Product.
Alternatively, the Employee may join the Company’s default Superannuation Fund (Australian Super) that offers a MySuper Product.
Superannuation contributions will be made to a superannuation fund that offers a MySuper Product.
The default fund, at each 1:2-month interval, will be the fund that offers a MySuper Product (as defined in the Fair Work Act) with the most employees as members.
The Default Fund offers a MySuper Product 11.5 Contributions will be made monthly on behalf of each Employee.
The Company will contribute superannuation payments on behalf of Employees in accordance with the requirements of the Superannuation Guarantee Legislation to a Superannuation fund designated by the Employee, alternatively the Employee may join the Company’s default Superannuation Fund (Australian Super) that offers a MySuper Product.
In the event the Employer is unable to determine which fund is the Employee’s existing (stapled) superannuation fund, the Employee will be asked and entitled to nominate a registered superannuation fund of their choice (provided the fund offers a MySuper Product).