Common use of Default Fund Clause in Contracts

Default Fund. The YWCA Canberra shall provide each new employee upon commencement of employment with information on the default fund. The employee shall then have 28 days to complete the information required and the YWCA Canberra shall then forward the employee’s details to the employee’s fund of choice. In the event that the employee does not select a fund of their choice, the YWCA Canberra will then forward superannuation contributions to the default fund. The default fund for the purposes of this Agreement is HESTA.