Superannuation Fund - Details (Australia)

Payroll | Superannuation | Superannuation Fund | Details tab

Overview

The fields displayed on this tab page are determined by national legislative requirements.

Fields

SPIN (if applicable):

Superannuation Product Identification Number.

Legal Name:

Legal name of the superannuation fund.

Employer ID:

Company's identification code.

Fund ABN:

Superannuation fund's ABN number.

Defined Benefit:

Yes/No field that indicates whether this is a defined benefit fund.

Defined benefit funds require an employer to contribute at a rate that provides an employee with a defined benefit. This benefit can be a multiple of the employee's final salary, a specified amount, or both. The employer’s level of support is calculated by an actuary, and employers need to obtain a benefit certificate showing the notional employer contribution rate.

Note: If you try to change the Defined Benefit value and transactions exist for that Superannuation Fund record, then a warning appears and you cannot change the value.

Complying Fund:

Yes/No field that indicates whether the superannuation fund or self-managed superannuation fund (SMSF) complies with Federal Governments rules. You can check the Register of Complying Super Funds (RoCS) at www.ato.gov.au/super

Note: The Register of Complying Super Funds (RoCS) is a publicly available list of all complying superannuation funds, approved deposit funds and eligible rollover funds regulated by the Australian Prudential Regulation Authority (APRA) and self-managed super funds regulated by the Tax Office.

SMSF:

Yes/No field that indicates whether this is a self-managed superannuation fund. If SMSF = "Yes", then PayGlobal displays the following message when the record is saved:

"Please make sure that this SMSF has been approved by the ATO."

Note: An SMSF has fewer than five members, each of which is a trustee of that fund. For more information, go to www.ato.gov.au and search for "SMSF".

USI:

Superannuation fund's Unique Super ID.

Intermediary fund ID:

Identifier used by the Clearing House /Intermediary for the Superannuation Fund.

Electronic Service Address:

The electronic service address of the superannuation fund. This may be one of:

an IP address
a URL, or
an alias endorsed by the ATO that represents an electronic service address for either an IP address or a URL.