If you are required to provide Choice, there are five main ways it will affect you:

1. You must appoint a default super fund for eligible employees.

2. Upon request you must provide eligible members with a Standard choice form. This must be provided within 28 days of the request.

3. If you do not hold an Australia Financial Services Licence (AFSL) you must ensure any guidance you provide to employees on their super options is generic information only. It may be worthwhile setting up a communication channel so employees can obtain information on their options, speak to you servicing adviser to organise this.

4. You should review your payroll and contribution remittance systems to ensure they can manage Choice. We also recommend you review internal policies, procedures and processes to allow for Choice.

5. You should maintain an administration solution that enables you to direct SG contributions to multiple super funds on behalf of employees. To assist you, AXA provides a clearing house facility which is designed to simplify and streamline the payment of superannuation to Choice members.