Intro to Super Fund (AU)

  • Published on Oct 5, 2023
  • 7 minute(s) read
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Navigation: People | Employees | ‘Select the Employee you need to manage’ | Action | Super Fund

         
Note for System Administrators
         
 Open to view permission settings



To give a user access to Super Fund records in the employee application:

  1. Go to System | Security profiles.
  2. Select the Security Profile that requires access to the employee Super Fund bubble.
  3. In Permissions, scroll down and expand the Employees | Employees application | Employee records to find Super Fund permissions.
  4. Tick the View, Add, Change and Delete boxes for Super Fund.

The Super Fund bubble in the employee application allows you to manage your employee's super fund (superannuation fund) records.

Super funds have distinct requirements for New Zealand and Australia. This guide specifically focuses on Australian employees. If you're adding a super fund for a New Zealand employee, please refer to Intro to Super Fund (NZ).

Super funds are investment schemes primarily designed to offer retirement benefits and other long-term savings benefits.

When an employee commences employment, you'll need to give them the NAT 13080 form - Superannuation standard choice form so they can nominate their preferred super fund scheme. You can then add the details in the form into their Super Fund bubble in the employee application.

Super fund schemes can have different requirements for employee and employer contributions. For example, for the Superannuation Guarantee contributions (SG or SGC) rate, Australian employers must contribute a set percentage to their employee's super fund. To understand the specific requirements, we recommend reviewing your super fund policies.

If the employee has more than one super fund, you can create separate records for each one.

Below are instructions for adding, editing, and deleting a super fund record. When you add, edit, or delete a super fund record, it triggers the creation, end date, or deletion of the connected pay transactions that contribute towards the employee's super fund.

How to add a Super Fund record for an Australian employee

  1. Go to People | Employees.
  2. Select the employee you need to add a Super Fund record to.
  3. Go to Action | Super Fund. The dated SUPER FUND panel will open.
  4. Select Add a Super Fund record. The ADD SUPER FUND panel will open.
  5. Enter the START DATE. The START DATE will be autofilled with the first available pay cycle start date, but can be changed if the employee's super fund payments need to start later than then.
  6. (Optional): Enter the END DATE if required. The end date is when the employee's super fund payments will end.
  7. Open the SUPER FUND backpack and select the employee's super fund.
         
TIP
         

If you can't find the required super fund in the backpack, it may need adding to the super funds catalogue in People | Super Funds.

  1. Enter the EMPLOYEE ACCOUNT NAME. This is the employee's super fund account name and will be used for future reporting purposes.
  2. Enter the EMPLOYEE MEMBER NUMBER. This is the employee's super fund member number and will be printed in the reference field of the direct credit file.
  3. Enter the EMPLOYER CONTRIBUTION RATE.
    • The value you enter will be the percentage contributed to the employee's super fund.
    • Please refer to the super fund policies to determine the minimum percentage you must contribute.
  4. Enter the EMPLOYEE CONTRIBUTION RATE.
    • The value you enter will be the percentage deducted from the employee's pay.
    • The employee's contribution is voluntary. Check with them what they would like to contribute.
    • If you enter a value here, you can't also add an EMPLOYEE FIXED VALUE CONTRIBUTION.
  5. Enter the EMPLOYEE FIXED VALUE CONTRIBUTION.
    • The value you enter will be the fixed dollar amount deducted from the employee's pay.
    • The employee's contribution is voluntary. Check with them what they would like to contribute.
    • If you enter a value here, you can't also add an EMPLOYEE CONTRIBUTION RATE.
         
TIP
         

The EMPLOYEE CONTRIBUTION RATE and EMPLOYEE FIXED VALUE CONTRIBUTION can't both have a value.
If you want to set up multiple super funds with different types of contribution, you'll need to create separate records for each.

  1. Set EMPLOYEE CONTRIBUTION IS SALARY SACRIFICED to Yes or No.
    • Setting to Yes means the employee's contribution will be deducted from their pay before income tax has been applied.
    • Setting to No means the employee's contribution will be deducted from their pay after income tax has been applied.
    • We recommend you refer to the super fund policies and check with the employee what they would like to choose for this step.
  2. (Optional): Complete the Content section by adding ATTACHMENTS or LINKS if required. This could include supporting information for your Super Fund.
  3. (Optional): Select one or more NOTIFICATIONS from the backpack. Notifications can be sent when a Super Fund record is added, updated or expiring. Super fund notification templates need to be set up in System | Notifications.
  4. Select the Green Tick Button  to save and close the ADD SUPER FUND panel. You'll see the new Super Fund record added to the CURRENT section of the dated SUPER FUND panel.
  5. You may now close the dated SUPER FUND panel.

How to edit a Super Fund record for an Australian employee

  1. Go to People | Employees.
  2. Select the employee you need to add a Super Fund record to.
  3. Go to Action | Super Fund. The dated SUPER FUND panel will open.
  4. Select Update Super Fund record. The ADD SUPER FUND panel will open.
  5. Enter the START DATE. The START DATE will be autofilled with the first available pay cycle start date, but can be changed if the employee's super fund payments need to start later than then.
  6. (Optional): Enter the END DATE if required. The end date is when the employee's super fund payments will end.
  7. Open the SUPER FUND backpack and select the employee's super fund.
         
TIP
         

If you can't find the required super fund in the backpack, it may need adding to the super funds catalogue in People | Super Funds.

  1. Enter the EMPLOYEE ACCOUNT NAME. This is the employee's super fund account name and will be used for future reporting purposes.
  2. Enter the EMPLOYEE MEMBER NUMBER. This is the employee's super fund member number and will be printed in the reference field of the direct credit file.
  3. Enter the EMPLOYER CONTRIBUTION RATE.
    • The value you enter will be the percentage contributed to the employee's super fund.
    • The rate will be autofilled with the minimum percentage you can contribute (9.5%), but can be changed if you want to contribute more.
  4. Enter the EMPLOYEE CONTRIBUTION RATE.
    • The value you enter will be the percentage deducted from the employee's pay.
    • The employee's contribution is voluntary. Check with them what they would like to contribute.
    • If you enter a value here, you can't also add an EMPLOYEE FIXED VALUE CONTRIBUTION.
  5. Enter the EMPLOYEE FIXED VALUE CONTRIBUTION.
    • The value you enter will be the fixed dollar amount deducted from the employee's pay.
    • The employee's contribution is voluntary. Check with them what they would like to contribute.
    • If you enter a value here, you can't also add an EMPLOYEE CONTRIBUTION RATE.
         
TIP
         

The EMPLOYEE CONTRIBUTION RATE and EMPLOYEE FIXED VALUE CONTRIBUTION can't both have a value.
If you want to set up multiple super funds with different types of contribution, you'll need to create separate records for each.

  1. Set EMPLOYEE CONTRIBUTION IS SALARY SACRIFICED to Yes or No.
    • Setting to Yes means the employee's contribution will be deducted from their pay before income tax has been applied.
    • Setting to No means the employee's contribution will be deducted from their pay after income tax has been applied.
    • We recommend you refer to the super fund policies and check with the employee what they would like to choose for this step.
  2. (Optional): Complete the Content section by adding ATTACHMENTS or LINKS if required. This could include supporting information for your Super Fund.
  3. (Optional): Select one or more NOTIFICATIONS from the backpack. Notifications can be sent when a Super Fund record is added, updated or expiring. Super fund notification templates need to be set up in System | Notifications.
  4. Select the Green Tick Button to save and close the ADD SUPER FUND panel. You'll see the new Super Fund record added to the CURRENT section of the dated SUPER FUND panel (or the FUTURE section if the start date you entered is still in the future). The previous record will move into the HISTORICAL section.
  5. You may now close the dated SUPER FUND panel.

How to delete a Super Fund record for an Australian employee

You can delete a Super Fund record if the Delete Button on the record is red.

  1. Go to People | Employees.
  2. Select the employee you need to add a Super Fund record to.
  3. Go to Action | Super Fund. The dated SUPER FUND panel will open.
  4. Select the red Delete Button on the Super Fund record you need to delete.
  5. Select Go ahead when the CONFIRMATION message appears.
  6. You may now close the dated SUPER FUND panel.