Clearinghouse SuperChoice is collaborating with software providers to offer its online clearing services through payroll software.
Sybiz Software’s payroll solution Sybiz Visipay will now offer employers the option to make employee superannuation payments to any compliant fund in a single electronic transaction.
Payroll officers can also check fund rules in advance of payments being made to save time and paperwork.
General manager of SuperChoice, Mike Fielding, said the payroll software market is an important channel to drive take-up of e-commerce solutions in advance of the government’s Stronger Super recommendations.
The Super Members Council has outlined a bold reform plan to boost productivity, lift retirement savings, and unlock super’s full potential.
Women beginning their careers in 2025 could retire with hundreds of thousands of dollars more in super due to the 12 per cent super guarantee rate, HESTA modelling shows.
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.