Data and e-commerce standard
A new data and e-commerce standard is being introduced to make it possible for you to send contributions to all funds in one standard electronic format. In the future, you will no longer need to provide this information to separate funds in different formats.
The standard will make processing super guarantee payments easier and result in:
- Fewer data-quality issues
- A simpler, more consistent contribution process
- Fewer lost accounts and less unclaimed money
- Faster processing of employees’ money into their super accounts
- Lower overall processing costs.
Employers with 20 or more employees must use the data and e-commerce standard from 1 July 2014.
Employers with 19 or fewer employees must start using the standard from 1 July 2015.
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