How can we reduce compliance costs and increase benefits for members using technology?

 

The self-managed superannuation industry has undergone regulatory reform.

What is
SuperStream?

SuperStream is a government reform aimed at improving the efficiency of the superannuation system. Under SuperStream, employers must make super contributions on behalf of their employees by submitting data and payments electronically, in a consistent and simplified manner.

The SuperStream standard is mandatory and applies to all employers making super contributions, Australian Prudential Regulation Authority (APRA) funds and SMSFs.

PwC’s Bond
platform

Achieve your SuperStream compliance with the most cost-effective solution on the market:
PwC’s Bond platform.

Adoption of a best-of-breed ebXML Messaging Service (ebMS) solution provides a secure, reliable and flexible connection point to the SuperStream network.

The purchase of an out-of-the-box solution for this part of the SuperStream problem will allow you to focus your effort and resources on achieving the operational efficiencies that are core to the success of the Stronger Super initiative.

PwC Digital Services has been involved in the delivery of B2B gateway solutions in the Australian electricity and gas markets for more than a decade. In particular, the Victorian gas market is based on ebMS 2 messaging standard.

On the basis of this experience we were commissioned by ASFA to deliver a whitepaper on the ebMS 3.0/AS4 standard and the impact to the Superannuation industry.

PwC’s Bond platform provides:

  • Full SuperStream compliance (rollover, contributions, member registrations).
  • Accredited ebMS/AS4 Message Handler.
  • Standard Business Reporting adaptor to connect securely to the ATO services – Single Touch Payroll (STP), Individual Income Tax Returns (IITR), business activity statement (BAS), Fund Verification Services (FVS), SuperMatch2, and Tax File Integrity Check (SuperTick/EmployerTick)
  • On-premise appliance, or hosted solution.

If your organisation is interested in understanding available options to achieve SuperStream, Single Touch Payroll compliance, contact us to discuss a solution that will not only address your immediate needs but also provide a platform for the future.

 

Contributor

Joe Brasacchio

Joe Brasacchio is the project and product director at PwC’s Intunity Digital Solutions.

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