Generally, your employer must make regular compulsory contributions to your superannuation fund, known as Superannuation Guarantee (SG) contributions. Most people can choose the super fund for these contributions; it’s called having a “Choice of Fund”.

If you haven’t exercised choice in the past, it’s possible that you might have had a new super account created for you each time you’ve joined a new employer, even if you already had an existing super account.

To stop the creation of multiple super accounts, the Government has introduced a system whereby your existing super fund (usually the fund with your most recent active super account) is ‘stapled’ to you when you change jobs. This means that when you start a new job, your employer will pay SG contributions to the same fund you had at your last job, unless you take action to make a change. Your employer will obtain information about your existing super fund from the ATO.

If you have never had a super account before you can choose one and provide your employer with the fund’s details in writing, this is called “exercising choice”. Otherwise, your employer will create an account for you with their default fund.

To request your employer to start paying SG contributions into your Verve Super account, you can simply provide the Choice of Super Fund form to your employer. We will give you this form when you set up your account. If you later change employers, your account with Verve Super should be your stapled account, however if you want to ensure your new employer contributes to your Verve Super account, you can simply email the form to your employer, reprint the form available online, or call us and we will send you a copy.

It’s important you take an interest in your super and help it grow into a healthy retirement nest egg. Further information on choice and stapling is available on the ATO’s website.

A small number of Australians who are under Enterprise Agreements are not eligible to choose their super fund. To find out if this is your situation, speak to your employer. Employers may agree to pay superannuation into your Verve Super account even if they don’t generally allow choice.

The easiest way to create a Verve Super account is to join online, it takes a couple of minutes. You can also join over the phone on 1300 799 482.

Yes, superannuation is an investment. The money in your super account is invested on your behalf, so it is important to make sure the way it is invested aligns with your values and long-term goals.

Some things to consider are: Does your super fund invest in things that go against your values? Is your fund transparent about what they are investing in? Is the risk profile suitable for your needs? Is your super fund achieving competitive long-term returns? Remember super is a long-term investment. The money in your account may be invested for 30 years or more.

Superannuation is a compulsory scheme, designed and regulated by the government to help you save for retirement.

Unlike a regular savings account, your superannuation is only accessible when you reach your preservation age and permanently retire from the workforce, or if you meet another specified condition of release.

In most cases, it is compulsory for your employer to make contributions to your superannuation account on your behalf. You can also make personal contributions to your superannuation account, if you choose to boost your savings or if you are self-employed. This money is then invested on your behalf by your super fund.

One of the benefits of super is that it is designed to be a tax-effective way to save for your retirement, as contributions and investment earnings in your super fund are typically taxed at a lower rate than your normal earnings.

No, the gender pay gap is not the same as equal pay. Equal pay means employees are paid the same for performing the same work or work of equal value, a requirement in Australia since 1969. The gender pay gaps, however, measures the difference in average or median pay of women and men across various roles, industries, and the workforce as a whole.

Absolutely!

Verve Super is designed to support women, gender diverse people and allies supportive of Verve Super’s mission to build their retirement savings, while at the same time advocating against gender-based discrimination and supporting efforts to help close the retirement savings gap for all women.

We encourage you to consider Verve Super if you want to grow your retirement savings through a super product that applies negative and positive screens in order to invest ethically in companies and assets that have a positive impact for women, the broader community, and the environment.