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  • CRT Alert 051/2019

    Temporary delay of USM rollovers to funds and payment to individuals

    From 19  September to 31 October 2019, rollovers of ATO-held unclaimed super money (USM) to funds and the direct payment of USM to individuals will be temporarily delayed, while we implement system enhancement to deliver on the Protecting Your Superannuation (PYS) measure. This includes client-initiated requests and requests made by a member through SuperMatch.

    The temporary suspension of USM rollovers and direct payments will enable us to:

    • implement PYS changes and undertake system regression testing to ensure the USM system is working correctly
    • allow aggregation of the new category of USM ‘inactive low-balance accounts’ to any existing ATO-held USM before rollover or payment. These accounts are due to be reported and paid to the ATO for the first time by 31 October.

    This delay is temporary and only applies to USM. All other super payments such as super guarantee charge, government co-contribution and low income super tax offset (LISTO) will continue to be made.

    If you have members with special circumstances whose requests require urgent processing, contact as we can help them.

    We anticipate USM rollovers and payment will start on 1 November 2019. From that time, any client or SuperMatch-initiated requests will be actioned before proactive consolidation of ATO held USM to active super accounts occurs.

    We will inform you when we resume normal processing of rollovers and payments for USM.

      Last modified: 17 Oct 2019QC 60399