Vision Super is first off the mark to send contributions in the SuperStream format.
Vision Super has worked with two of its employers to finish off the initial testing of SuperStream with the Australian Taxation Office (ATO).
The fund announced Hansen Technologies was the first employer to use the new standard, and said both companies in the testing are running live with the SuperStream format.
"The experience of this first group highlights the benefits which SuperStream will bring with an end-to-end flow of data and payments from employers to super funds," the ATO said.
Vision Super was part of the first induction group working with the ATO to roll out SuperStream contributions through the new method.
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
The fund has unveiled reforms to streamline death benefit payments, cut processing times, and reduce complexity.
A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how much money a fund makes today, but whether the people running it are trustworthy, disciplined, and able to deliver for members in the future.
AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.