Your legal obligations
The Federal Governments reform agenda for the superannuation industry is known as SuperStream
These reforms include a new standard for paying super contributions on behalf of your employees.
What is the Data and Payment Standard?
The standard requires employers to:
- send all contribution data electronically in a standard message format,
- make contribution payments electronically, link data and money with a unique payment reference number,
- ensure data and payments are sent on the same day, and
- respond to fund requests for complete information within 10 business days.
The new standards have started. Any employer can commence making Super Guarantee contributions under the new standard now. Intrust Super is equipped to accept contributions and ready to assist.
Large employers (20 or more staff members)
By 28 October 2015, you must be paying contributions in line with the data and payment standard.
Small employers (19 or less staff members)
By 30 October 2016, you must be paying contributions in line with the data and payment standard.
Talk to the team at Intrust Super. We are here to make sure you are ready by the deadline! To find out more about Intrust Super’s solutions, call us on 132 467. We’re at your service.