|
|
|
Super Choice Press Release - HR Monthly Mar0511 April, 2005Neil Young, Director, Product Management for Neller was interviewed for this article that was published in the March 2005 issue of HR Monthly. Millions of employees are about to get the right to choose their superannuation fund, and there's no avoiding the extra workload for HR and payroll departments. By Michelle TesorieroStephen Bruce, national payroll manager at Sonic Healthcare, says he's going to resign on 30 June, the day before new legislation comes into effect giving employees choice of superannuation fund. He's joking, but his "Not more paperwork!" response to the Superannuation Legislation Amendment (Choice of Superannuation Funds) Act 2004 will be echoed in HR and payroll departments across the nation. Bruce's team of six manages a payroll of 3,500, with many casual or part-time employees. While he is confident of coping, he is expecting that the changes?allowing many Australians to choose the fund into which their employer pays their superannuation contributions will mean more work, at least in the short term. From 1 July, 5.7 million workers will have a statutory right to choose their own super fund, the Association of Superannuation Funds of Australia (ASFA) estimates. It expects about eight per cent, or 456,000, to exercise choice over a number of years. Read the rest of this article. WEBSITES
|
||
 |
