These days employees can choose any superannuation fund, which is great for the employee – but creates an administrative headache for their employer.
When you have multiple employees with different funds it can take a bit of juggling to correctly and promptly pay your superannuation contributions to comply with all the relevant legislation.
Making payments to numerous superannuation funds each quarter can be time-consuming and the manual handling of cheques and remittances can be a cumbersome task.
Super Clearing House – take the hassle out of paying super
It allows employers to pay all their employees various superannuation payments with one simple transaction.
The clearing house then handles the finer detail of ensuring each employee’s chosen superannuation fund receives the correct payment – saving time and money for their employer by outsourcing the administration to the experts.
Simply register the employees’ superannuation fund details with us and we will distribute the contributions to their various superannuation funds from your one secure electronic transaction.
This streamlining of superannuation payment handling can significantly reduce the hassle and cost involved in meeting your employee superannuation obligations.
Small businesses with 19 or fewer employees – employed on a full-time, part-time or casual basis – can use and will greatly benefit from this service.
The main benefit for you as an employer is the significant reduction in time required and compliance costs when paying contributions.
The service can deliver savings by:
- Reducing the amount of processing work your company has to complete
- A single secure electronic transaction to save on bank fees, cheques and postage
- Requiring less paperwork and time spent dealing with administrative queries from superannuation funds
- Lower cost than paper-handling
- Reduces delays and returns
- Eliminates fund remittance preparation
- Ensures employee fund choices can be accommodated
- Reduces strain on in-house staff and resources
You can access The Small Business Superannuation Clearing House here