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  • CRT Alert 023/2018

    23 March 2018

    Update 4 – Clearing house CTR issues

    We are working to fix the issues affecting our ability to process some contribution transaction request (CTR) messages coming through the Small Business Superannuation Clearing House.

    We'll continue this work over the weekend and provide an update Monday afternoon.

    We continue to meet daily with the Superannuation Response Group and we're working closely with industry representatives to resolve the issue as quickly as possible.

    Trustee obligations

    APRA and the ATO acknowledge that issues experienced with the Small Business Superannuation Clearing House represent a situation in which 100% compliance with your trustee obligations may not be possible.

    While the applicable period for allocating a contribution to a member is three days, in accordance with the Superannuation Industry (Supervision) Regulations (SISR) 6.34A APRA have confirmed that where the trustee is unable to allocate this within three days the position outlined in SuperStream FAQ 8 will apply.

    APRA supports the three-day rule to ensure that trustees continue to prioritise efficient processing and therefore requires compliance at all times. However, the approach to enforcement recognises that there may be occasions that, for reasons outside the control of the trustee, 100% compliance may not be possible.

    If you have any concerns about meeting your obligations you should speak with your APRA supervisor.

    Next step:

      Last modified: 26 Mar 2018QC 54859