What is Superstream? | SUPERCentral

Superstream (no relation to SUPERCentral) is the name of the new electronic payment system for employer superannuation contributions and benefit rollovers and transfers. Under the Superstream system, employer contributions and benefit rollovers and transfers will be made by electronic funds transfer and contribution and rollover information will be provided via electronic messages provided to an electronic mail box of the trustee. The system will replace cheques, letters and forms.

The general start date for Superstream is 1 July 2014. For certain types of employer contributions Superstream will only apply from 1 July 2015. Employer contributions and rollovers and transfers from that date will have to be made using the Superstream system.

Summary - Contributions into the Superannuation System

Type of Contribution

Superstream treatment

Employer Contribution

(Unrelated employer)

Employer (20 or more employees)

Superstream applies to contributions made on or after 1 July 2014

Employer (19 or less employees)

Superstream applies to contributions made on or after 1 July 2015

Employer Contribution

(Related party employer)

Not applicable

Member contributions

Not applicable

Spouse contributions

Not applicable

Spouse Splitting contributions

Not applicable

3^rd party contributions

Not applicable

Summary - Payments within the Superannuation System

Type of Payment

Superstream treatment

APRA fund to APRA fund

Applies to rollovers/transfers made on or after 1 July 2014 (note 1)

APRA fund to SMSF

Applies to rollovers/transfers made on or after 1 July 2014

SMSF to SMSF

Not applicable (note 2)

SMSF to APRA funds

Not applicable (note 2)

Note 1 – Superstream was trialed during the 2013/14 financial year in respect of these types of transfers.
Note 2 – It is highly likely that Superstream will, in the future, be extended to these types of fund to fund transfers.