When completing onboarding in Flare, you may be asked to nominate a superfund. This article reviews how to select one of the choice funds, add your own superfund details or select your organisation's default fund.
1. Log in and navigate to the Superannuation step in onboarding. Select the Choose your super button.
2. Select from one of the displayed Choice Funds by clicking the Join Super button or if you want to go with a different Superfund select the 'No thanks, I prefer to select a different fund' button in the bottom right corner.
3. If you select No thanks, I prefer to select a different fund then use the drop-down on the next page to determine whether you want to select one of the following:
a. My Own Super Fund: You will need to input your fund USI and member number
b. My Self-Managed Super Fund: You will need to input your SMSF information and certificate of compliance
c. Default Fund: You can select your organisation's default fund
4. Regardless of which fund you choose, when you select the superannuation fund, a pop-up will appear. Please enter your email, password and signature to sign the Superannuation Standard Choice Form.
Options when Choosing a Super Fund
Selecting the right super fund is very important. We have provided you with easy access to these choice funds to make your choice an easy one, if you think that one of them might suit your needs. These funds are integrated with Flare to ensure a simple and smooth Superannuation setup and consolidation option.
My own super fund
If you are already a member of a super fund or wish to setup access to a super fund outside of Flare, you can enter the details of this fund into Flare to use them as your Superannuation choice. You will need your:
This is the member number held by the employee, the way to identify their contributions by the superannuation fund.
This is the Unique Superannuation Identifier number, it identifies where funds are distributed to through Super Stream reporting and remittance.
My Self-managed Super Fund
If you have your own Self-managed Super Fund where you are the trustee of the fund, you can enter the details of this fund into Flare to use them as your Superannuation choice.
It is a legal requirement for all companies to have a Default Superannuation Fund setup in the instance where an employee may not wish to setup their own fund. You can select this fund as your Superannuation choice.