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GBST delivers live contributions
SuperStream gateway provider GBST announced it has delivered its first live SuperStream electronic choice contributions messages.
It started live contributions on 4 August, and made the first delivery of SuperStream-compliant contributions from employers to super funds, including self-managed super funds (SMSF).
"This level of automation will contribute positively to Australia's rapidly growing SMSF sector," CEO of GBST Wealth Rob De Dominicis said.
"Enabling safe and successful delivery of contribution information to the SMSF sector is key to making SuperStream a reality for employers."
GBST said Class Super is receiving contributions and processing through to end ledgers on behalf of its clients.
This includes the processing of contributions for an SMSF member from their employer via payroll provider, superannuation cleaning house and SuperStream gateways, direct into the super fund's general ledger.
Class said its SMSF SuperStream offering DataFlow is part of its first SuperStream group to start receipt and processing of contributions from employers through to funds using the new data standard.
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