Explains the process for transferring superannuation guarantee (SG) credits to member super accounts which changed following amendments to the Superannuation Guarantee Administration Act 1992.
An SG credit can be automatically transferred to a super account if the account has been identified as belonging to a particular person.
The lodgment of a SuperMatch matching request with the name and address of a person (fund member) is accepted by us as identifying that person as holding an account with the super provider who lodges the request.
After a super provider has received a SuperMatch matching report that identifies that an SG credit is available for a fund member, they can initiate the transfer of that credit to the member's account by resubmitting their SuperMatch matching request file for the person.
When resubmitting the SuperMatch matching request the word 'TRANSFER' must precede the super provider's name details.
For example, the 'Provider identity data record' Current Provider Name would be completed as:
TRANSFER ABC SUPERANNUATION FUND
How is payment of the SG credit made?
It will generally take us 10 days to process a transfer request.
Then we will issue a cheque/s to the super provider accompanied by a 'Notice of entitlement' which reconciles any amounts payable to a member/s.
The Notice of entitlement will provide the member's name, account number and amount payable. The account number is prefixed by the letters 'SM' to indicate that the transfer has been made as a result of a SuperMatch request.
Any cheque/s and the Notice of entitlement will be mailed to the postal address of the super provider as provided to us for SG purposes.
More information
For more information about SuperMatch, refer to Superannuation matching (SuperMatch) Request specification.
Last Modified: Tuesday, 12 March 2013