Stapled superannuation refers to the government-mandated system where an employee's super fund "follows" them from job to job.
This initiative prevents the creation of multiple super accounts, which can lead to unnecessary fees and lost retirement savings.
Employers are required to contribute to the employee's existing "stapled" super fund unless directed otherwise by the employee.
For instance, if an employee changes jobs but has an existing super fund, their new employer must continue contributing to that fund instead of setting up a new one.
