APRA funds must:
- be able to send and receive electronic messages and payments using the SuperStream standard
- validate new member registrations using SuperTICK
- be able to receive contribution data and payments from employers using the SuperStream standard, and allocate contributions to member accounts within three business days
- use the SuperStream standard to process rollovers, and validate rollovers.
- use the SMSF Verification Service to verify self-managed super fund (SMSF) details before making rollovers to SMSFs.
- use the SMSF member verification system to confirm if a member requesting a rollover to an SMSF is a member of that SMSF.
- use the Fund Validation Service to update their product details.
Funds must use the SuperStream standard to process electronic release authorities after they have transitioned to SuperStream Rollovers version 3External Link
Employers must use SuperStream and we encourage you to help employers to comply with SuperStream.
See also:APRA funds must be able to send and receive electronic messages and payments using the SuperStream standard.