What is SuperStream? - It doesn't have to be super complicated!

3/6/2016

SuperStream is the new superannuation data and electronic payment scheme. The data in this new format will allow for information to be transmitted consistently across the super system - between employers, funds, service providers and the ATO. Each payment is now also linked to a unique payment reference number.

SuperStream allows businesses to make their contributions in one single transaction - even in the case of multiple funds. This new system also allows contributions and rollovers to be processed faster, more efficiently and with fewer errors. People will also be reliably linked with their super, reducing the amount of lost accounts and monies.

Though the deadline is June 30 2016 it is recommended you implement the system as soon as possible to ensure your system is working correctly. PLUS! you'll be able to enjoy the benefits of the SuperStream sooner!

For more information watch the below video or visit https://www.ato.gov.au/super/superstream/_

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