Available for the following Payroll plan: Standard, Premium
Available for the following users: Admin
If your employees are a self-managed super fund (SMSF) member or trustee,
here's what you need to know about staying compliant with Payday Super and
SuperStream changes, including ESA requirements and contribution timeframes.
SMSF super payments
Does HeroClear support UniSuper Defined Benefit members?
HeroClear cannot process SuperStream contributions to UniSuper's
defined benefits division. Defined benefit funds don't hold the
CONT1.0-X
certification that HeroClear requires and verifies via the Fund
Validation
Service (FVS).
Employers with defined benefit payments should handle those contributions
directly with the fund.
Does HeroClear work for employees with Self-Managed Super Funds (SMSFs)?
Yes. HeroClear handles all fund types including SMSFs, using
Confirmation
of Payee (CoP) to verify SMSF account details.
Note
SMSFs are not part of the MVR flow. SMSF verification is
handled
via FVS and CoP instead.
What do I need to do to prepare for Payday Super and SuperStream changes?
You need to comply with all Payday Super and SuperStream changes,
including the requirements around contribution allocation, bank account
reachability, and maintaining an active electronic service address
(ESA).
How long do I have to allocate or reject a super contribution?
You have 28 calendar days after the end of the month in which a contribution
is received to allocate or reject it. This timeframe hasn't changed
under Payday Super.
What do I need to check if I receive a contribution from an unrelated employer?
You need to make sure your bank account is reachable by the New Payments
Platform (NPP), which you can confirm with your bank, and that you're
registered for and actively maintaining an electronic service address
(ESA).
What is an ESA and what does it do?
An Electronic Service Address (ESA) is how SuperStream contribution
messages are delivered to an SMSF, usually through an administrator
or messaging provider.
What's changing with member verification under the SuperStream upgrades?
With the SuperStream upgrades supporting Payday Super, employers
can send a member verification request to you before making a contribution.
This confirms your ESA is active before the employer attempts to
pay.
What happens if my ESA isn't active?
If your ESA isn't registered or correctly maintained, the employer
will receive an error and won't be able to make the contribution.
Payments may instead be redirected to the employer's default fund
to help them avoid the super guarantee charge (SGC), and the employer
may unintentionally become exposed to the SGC if the contribution
isn't made within the required timeframe.
Why is maintaining an active ESA so important?
Maintaining an active ESA is a critical readiness item for you, since
it directly affects whether employers can successfully make contributions
to your fund.
Further information
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