MyFutureFund opt-out window is now open

The MyFutureFund opt-out window opened on 1 July and will remain open for eligible employees for a period of two months.

How does an employee opt out of MyFutureFund?

Employees wishing to opt out can do so through the MyFutureFund Participant Portal using their verified MyGovID. Once logged in during the opt-out period, select the opt-out option and complete the required questions.

What are the consequences/considerations if an employee opts out?

• A 48-hour cooling-off period applies after submitting an opt-out request.
• Only employee contributions made to date will be refunded if the opt-out is confirmed.
• Employer and State contributions already paid will remain invested in the employee's MyFutureFund account.
• No further employer or State contributions will be made unless the employee chooses to rejoin or is automatically re-enrolled.
• Before opting out, employees should consider that they will no longer benefit from matching employer contributions and State top-ups on future contributions.

Will an employee be subject to automatic re-enrolment if they opt out?

Employees who opt out and continue to meet the eligibility criteria will be automatically re-enrolled after two years.

Is it possible to temporarily suspend contributions?

Employees may also choose to suspend their contributions during the two-month opt-out period. All contributions (including employee) will be maintained until contributions recommence in the future. It is possible to rejoin the scheme, but only after a period of 12 months has elapsed.

For employees enrolled in January, the current opt-out window closes on 31 August.

For more information, visit the MyFutureFund Participant Portal.