Superconnect Clearing House - Online Superannuation Clearing House

The Superconnect Clearing House system is designed so that a provider can utilise an existing on-line capability and electronically forward information to Superconnect Clearing House. Alternatively, a superannuation fund or administrator can utilise Max eCommerce's MultiSuper on-line employer client to capture data by the employer and forward the information directly to the Superconnect Clearing House system.

Superconnect Clearing House is available as an outsourced solution or as a packaged software solution where the administrator would administer and run the system, including arranging and maintaining all connections to multiple superannuation funds.

Superconnect Clearing House is a complete end to end electronic processing and clearing house solution which has a number of benefits for administrators. These include:

• Elimination of paperwork via electronic delivery of contributions and payments
• Faster turnaround time for processing of contribution information
• Validation of data at the point of submission;
• Full audit trail capabilities for ease of reconciliation
• Reduction in errors - no transposition of entry errors
• Reference ID for reconciliation of contribution advice with fund bank account
• No additional software is required to implement the service
• Online acceptance of registration and bank account details

Superconnect Clearing House - Detailed Description

Funds Maintenance

Max eCommerce sources and maintains the superannuation fund information and product information so that an employer can easily ensure that he/she has the correct fund name for the employee. A Fund List file is sent to the provider/aggregator, normally a payroll provider, or a superannuation fund web page, so that the employer can cut and paste the fund name into the on-line application. This ensures that Superconnect can accurately match the data and ensures that the correct money and data is sent to the correct fund.

Registration

The provider/aggregator registers or authorises an employer to use the system. This is an electronic process and avoids unnecessary re-keying or data entry. Once a registration is accepted, the system generates a registration file which is sent electronically to Superconnect Clearing House. This file is in an agreed format.

Contributions

When an employer makes a contribution another electronic data file is sent to Superconnect Clearing House. This file contains all relevant information about the employer, the employee and the fund together with the type of superannuation contribution and the amount. The employer's bank account details are also included so that a direct entry file (a direct debit file) can be created.

Payments

Superconnect Clearing House is designed so that a Direct Entry file can be sent straight to the bank. Alternatively, it can be generated and sent to the provider for execution.

Once the funds have been cleared, Superconnect Clearing House generates a second Direct Entry file and credits funds with the payment and generates a contribution advice file which can be electronically collected by the fund and entered into the funds' administration systems.

Where funds cannot receive electronic data, Superconnect Clearing House can also create and print cheques and mail these together with a paper contribution advice to the relevant fund.

A provider has access to the data flowing through Superconnect Clearing House via a provider interface, which is a read only web interface which enables customer service and finance personnel to monitor what is happening in the system and for reconciliation purposes.

MultiSuper Employer Interface

Many superannuation funds, or their administrators, do not have a web based online superannuation collection system. Some do have an interface, but the interface is designed mainly for small and medium sized enterprises, thereby providing limitations on the number of companies that can provide data electronically.

Max eCommerce has designed a new employer web interface that combines the online data validation and payment capabilities of its signature Superconnect product, together with the flexibility required for choice of fund.

MultiSuper has a number of features:

• Online registration by the employer
• Online registration of the Direct Debit Request
• Employers are able to Create new members with online validation customised to the requirements of the superannuation fund
• Employers are able to advise of termination of members
• Employers are able to upload a payroll file, reducing the need to re-key data;
• Contributions history is viewable
• Member information can be changed
• Employers can make a single payment for all employees for multiple funds
• Handles multiple types of superannuation contribution
• Conforms to the superannuation industry agreed standards, SuperEC
• It requires only an internet connection and a web browser to operate
• It is highly secure
• Employers can submit changed bank account information and a different DDR online in a secure manner
• Provides for employer self service and management of employer access accounts.

MultiSuper can be configured and customised to ensure that for the sponsoring superannuation fund in a Clearing House choice of fund environment, the sponsoring fund can receive its own data in the format it requires so that it can be electronically uploaded into its administration systems.

Are you an Employer?

Our Superconnect Superannuation Clearing Facility lets employers send superannuation contributions with the corresponding employee information electronically to any superannuation fund.

Through Superconnect, you can process contributions to any complying superannuation fund that your employees may choose to direct their contributions to. This includes Do It Yourself (DIY) funds.

For more information, or to register, go to www.superconnect.com.au.