By now, your fund should have taken steps to receive more frequent contributions and meet shorter processing timeframes.
Your actions will support employer compliance when it comes to meeting their Payday Super obligations.
This includes:
- responding to member verification requests (MVRs) within 24 hours
- providing clear guidance and support
- rejecting incorrect contributions as early as possible (within 3 business days)
- providing clear and timely error messaging
- improved data and record keeping, including reporting accurate member account attribute service (MAAS) and member account transaction service (MATS) reporting.
Make sure your fund is on track to manage higher contribution volumes and deliver better outcomes for employers and your members.
Don’t wait, take the steps now to help employers meet their obligations and contribute to a smooth transition.
We have a range of resources at ato.gov.au/PaydayResources.
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