Online services for your members
SuperSeeker has moved to be part of our Individual Online Portal. The information below is about what your members can see and do online. The simple SuperSeeker search for lost and ATO-held money is still available, but individuals will need to access the Online Portal to take any action on the accounts shown.
What is the policy intent?
People have often found it hard to keep track of their super accounts and consolidate them.
Once fully implemented, our new online services completely change this process by allowing your members to see all their super information in one place, no matter who holds their money - they can request consolidation of their super accounts online if they choose to after we provide them with information. We also prompt them to contact you or their other funds to decide how they may want to manage their super.
What is decided?
What can your members see online?
Your members can see how much money they have in the following types of super accounts:
- active accounts that received contributions during the last two years, sourced from member contribution statements
- lost accounts reported to us by you on the lost members statement every six months.
What new fund and member information is displayed online?
New fund information
Your members can still see the name of your fund online. Remember: this may not be your commercially known name that your members recognise instantly. It will be the name you have recorded on the ABR - that is, your entity name, such as Trustee of XYZ Superannuation Fund.
In addition, from January 2014, there will be a link to your fund's home page to make it easier for your members to follow up with you any information that they discover on SuperSeeker.
New information about your members
We still show your member's address as last reported to us. Your member can see if the address you have for them is not current, and this may prompt them to contact you to provide their correct information.
If the account is a lost account, SuperSeeker shows your phone number as provided by you on the lost members' statement. SuperSeeker encourages the member to contact you to enable you to remove them from the lost members register, at the next reporting date.
In addition, from January 2014, your members can see:
- all of their super accounts which have been reported to us (including pension accounts and inactive accounts)
- whether they have received any contributions for each account in the last financial year
- whether there is an insurance benefit attached to the account.
How do members consolidate their super?
With the information displayed online, your members can consolidate their super accounts, using our 'transfer super' functionality. Members can request the transfer of ATO-held monies to a nominated super fund or the full rollover of monies in an existing super account to a nominated fund.
Once your member has selected the account they want to transfer their super from, they can select the fund they want to transfer their super to, using a drop-down menu - for example, if your member has three super fund accounts displayed, and they choose two accounts they want to transfer their super from, only the remaining fund is displayed in the drop-down menu. This drop-down functionality will ensure your member can't transfer account balances to a fund they have selected to roll over.
This makes it much easier for your member to request consolidation of their accounts online.
What do you need to do if members are consolidating their accounts from your fund?
When your member completes the online electronic portability form, we send it to you through ECI. You need to action this within 28 days. From 5 October 2013, we send the electronic portability form in the data and e-commerce standard and you generally have three business days to action this request from your members.
To help you check product and bank account details for outbound rollovers and meet the three-day performance standard for processing rollovers, we are providing a fund validation service from 1 July 2013.
The intent of the three-day performance standard is to ensure that your members receive their money as soon as practicable and minimise the amount of time that the money is out of market.
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APRA will be issuing guidance about the three-day performance standard.
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You need to:
- close the account
- calculate the payout amount
- roll over this amount to the fund your member has nominated.
Do you have to tell your members you have received rollovers?
From 1 July 2013 you should be ready to receive rollovers in the data and e-commerce standard. This streamlined process enables you to deposit this money into your members' accounts much faster - you can then advise your member.
Last Modified: Friday, 5 April 2013