Investment, Insurance, Superannuation
Why go it alone? With a range of valuable resources for employers, OnePath makes it easier to administer your fund, and keep your employees informed.
Choice of Superannuation Fund (COF) legislation allows employees, with some exceptions, to choose an eligible super fund into which their employer Superannuation Guarantee (SG) contributions are paid.
COF was introduced to provide employees with the freedom to select their own super fund, and to encourage people to take control of what for many will be their biggest source of retirement savings.
For employers, this means you may have to pay super contributions to multiple super funds - potentially increasing your administrative workload.
To make it easier for you to fulfil your obligations under COF, OnePath's Super Clearing Service is provided free* to all OnePath employer customers.
It allows you to pay your COF contributions (i.e where your employees have chosen their own fund) simply and easily online when you pay your regular contributions via EasyTransact.
Our dedicated EasyTransact Helpdesk is also available between 8:30 and 5:30pm (Sydney time), Monday to Friday:
*The Super Clearing Service is free of charge to employers who nominate Integra Super as their default super fund, and where at least 50% of their employees have their contributions paid to that fund. The 50% assessment will be based on the total number of employees whose contributions are being administered through EasyTransact.
More information
ATO superannuation information for employers
As part of its industrial relations reform, the Federal Government introduced a set of Modern Awards (approximately 150) to replace thousands of existing awards. The Modern Awards have been in effect since 1 January 2010.
As well as covering wages and conditions of employment, the Modern Awards specify a selected range of super funds, one of which an employer must use as its default superannuation fund. The Modern Award super provisions only apply for super plans established after 12 September 2008, however exceptions apply.
The Modern Awards also require that voluntary member contributions be made within 28 days of the end the month in which the deduction by the employer from a member’s after-tax wages was authorised. Superannuation Guarantee contributions are still due quarterly.
If your default super fund was established with OnePath before 12 September 2008:
If your default super fund was established with OnePath after 12 September 2008:
you may be impacted by Modern Awards however if you are affected your employees can nominate your OnePath employer super plan as their chosen fund.
If your default super fund was established with OnePath prior to 12 September 2008, it is not impacted by the Modern Award superannuation requirements because of the continuation provisions in the Modern awards. You may continue to make Superannuation Guarantee (SG) contributions for all of your current and future employees.
The continuation provisions also protect employer plans which moved to OnePath through a successor fund transfer after 12 September 2008, where the former super fund was wound up.
In other words, you do not need to do anything!
OnePath will continue to provide you with a fully featured and flexible super solution to suit your changing needs and by keeping your account with OnePath, you and your employees will continue to have access to:
OnePath's exclusive package of health, banking and lifestyle discounts through InvestorBenefits.
If your default super fund was established with OnePath after 12 September 2008, you may be affected by the Modern Award superannuation requirements. Firstly you need to determine if you have employees covered by Modern Awards.
Are you covered by a Modern Award?
Coverage depends on whether your employees fall into a category covered by a Modern Award.
Employers who commenced their current OnePath plan after 12 September 2008:
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Modern Awards do not apply to super for employees covered by: |
Additionally, no Modern Award applies to employers which are not constitutional corporations (eg sole trader) in NSW, QLD, SA, WA or TAS. |
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A Modern Award/s may apply to super arrangements for employees covered by: |
Exceptions:
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* A Modern Award can apply but the Agreement prevails where the terms of the two are inconsistent (including the superannuation terms).
† Terms and conditions included in a Contract of Employment which are below those set by a Modern Award are not enforceable.
Are you impacted?
If your super arrangements are impacted by Modern Awards, the following are some actions you can take to ensure you do not get penalised:
An employee’s choice of fund will override the Modern Award.
Visit Resources to download Modern Award resources for you and your employees.
To ensure the great rates you have already negotiated with OnePath and the familiarity we have with administering your plan continues to benefit your employees, they can individually nominate OnePath as their chosen fund. Simply download a Fund Nomination Form and distribute to each of your employees.
OnePath is an eligible choice fund.
Once you've received the completed choice forms, you do not need to send it to us. You need to keep a copy of the form for your own records for a period of five years to comply with Choice of Fund legislation
Failing to meet your employer obligations under the new awards could mean severe financial penalties.
In addition to paying the 9% SG to the correct fund, you could be charged SG penalty interest rates, or be liable for Modern Award financial penalties. You could be ordered to remedy the default, either by paying money into a nominated fund or by compensating the employee for the superannuation benefits they have lost as a result of the breach.
Visit Resources for more information and resources for you and your employees.
To work out exactly what Modern Award, if any, applies to your employer obligations we suggest you engage lawyers or industrial relations consultants.
OnePath Custodians Pty Limited is unable to provide legal advice.
The following contact points may assist you. OnePath Custodians Pty Limited does not accept responsibility for any inaccuracies, errors or omissions in their service or advice.
Fair Work Australia
Australian Industrial Relations Commission (AIRC)
To work out exactly what Modern Award, if any, applies to you and your employer obligations we suggest you engage lawyers or industrial relations consultants.
OnePath Custodians Pty Limited is unable to provide legal advice.
The following contact points may assist you. OnePath Custodians Pty Limited does not accept responsibility for any inaccuracies, errors or omissions in their service or advice.
Fair Work Australia http://www.fwa.gov.au/
Australian Industrial Relations Commission (AIRC) www.airc.gov.au/awardmod
If your super fund has 50 or more members, superannuation legislation states that a Policy Committee must be formed - the role of which is to provide a forum for any queries from members or the employer, and to inform the Trustee of any issues.
During your plan's transition to OnePath, you will be provided with a copy of OnePath's 'Policy Committee Kit' - giving you a guide to setting up a Policy Committee, and its ongoing operation. Examples of topics covered include:
Along with your adviser, OnePath can offer your business the following additional Policy Committee support:
Everything your OnePath members need is now all in one convenient place. When members visit the Member Super Centre they can:
Workplace seminars have been designed by OnePath's investment and technical experts - allowing your employees to access even more financial information at no extra cost.
Seminars can be organised at a time that suits you and your employees. They comprise presentations and support tools to help members understand their super, and the process of investing.
If you'd like to arrange a seminar for your workplace, talk to your plan's financial adviser or your OnePath Relationship Manager.
EasyTransact is a secure, online, electronic super administration and contribution processing system available through ANZ that eliminates the paperwork involved in submitting contribution payments manually, thereby saving you time to focus on other priorities. And best of all, it’s free!
Login to EasyTransact and start managing your employer super.
ANZ EasyTransact is available to use now and allows you to easily and quickly, manage your employee super contributions and ensure they are paid correctly and on time.
EasyTransact complies with the Federal Governments SuperStream reforms that have been introduced to improve the quality of data for member superannuation accounts. It also helps you meet your Superannuation Fund obligations quickly and easily by providing you with a simple way to submit choice contributions to other complying super funds your employees may select - all at no extra cost!
ANZ EasyTransact can be run on most computer systems with an internet connection, a browser and email software, and ensures security for online transactions with high levels of encryption and coding.
All ANZ Employer Super customers have access to EasyTransact.
ANZ EasyTransact helps you reduce the time you spend administering your employer superannuation plan.
EasyTransact is compliant with the new SuperStream legislation requirements. As a result, you can:
Need more information?
Contact our Employer Services team on 13 47 43 (weekdays from 8.30am and 6.30pm AEST).
BPAY® Registered to BPAY Pty Ltd ABN 69 079 137 518
The Super Clearing Service offered via EasyTransact is issued by OnePath Custodians Pty Limited (ABN 12 008 508 496, AFSL 238346, RSE L0000673). We may vary the fees for the use of the Super Clearing Service but will provide you with 30 days prior notice before the variation takes effect.
Although ANZ EasyTransact and the Super Clearing Service is available through Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522, ANZ does not guarantee or stand behind the issuer or this product.
This information is of a general nature and has been prepared without taking account of your needs, financial situation or objectives. Before acting on this information, you should consider whether the information is appropriate for you having regard to your needs, financial circumstances or objectives. You should read the ANZ EasyTransact and the Super Clearing Service Product Disclosure Statement (PDS) available by visiting anz.com or by calling Customer Services on 13 47 43 before deciding to acquire or hold the product.
SuperStream was introduced by the Federal Government to improve the way super contributions are submitted by standardising the format and the way in which payments are made. Employers are required to comply with these new standards and submit contributions electronically by the deadlines, October 2015 for large Employers and 30 June 2016 for small employers (less than 20 employees).
Remember, if you are not SuperStream ready, the ATO may enforce penalties and you may not meet your super guarantee obligations.
There are various ways to get ready for SuperStream. Some of the options include; upgrading to a payroll system that meets the SuperStream standard, using the Government's Small Business Clearing House*, utilising a super clearing house, using a messaging portal, asking your accountant or bookkeeper to help you or, ANZ EasyTransact, our compliant e-contribution solution. ANZ EasyTransact (LINKS) is available to use now and allows you to easily and quickly, manage your employee super contributions and ensure they are paid correctly and on time.
To avoid possible penalties, employers must transition to the Federal Government’s SuperStream requirements by the following dates:
Register now with ANZ EasyTransact in 3 simple steps:
1. Register - call 13 47 43 (Weekdays between 8.30am - 6.30pm (AEST)
2. Set-up - if you haven't already done so, ask your employees for their full name, residential address, a contact phone number, gender, date of birth, TFN (if has been provided by the employee) and set up your contribution schedule.
3. Go - make your payments and meet your Super obligations in a compliant format.
Need more information?
Contact our Employer Services team on 13 47 43 (weekdays from 8.30am and 6.30pm AEST).
The Super Clearing Service offered via ANZ EasyTransact is issued by OnePath Custodians Pty Limited (OnePath Custodians) ABN 12 008 508 496, AFSL 238346, RSE L0000673.
Although ANZ EasyTransact and the Super Clearing Service is available through Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522, ANZ does not guarantee or stand behind the issuer or this product.
This information is of a general nature and has been prepared without taking account of your needs, financial situation or objectives. Before acting on this information, you should consider whether the information is appropriate for you having regard to your needs, financial circumstances or objectives. You should read the ANZ EasyTransact and the Super Clearing Service Product Disclosure Statement (PDS) available by visiting anz.com or by calling Customer Services on 13 47 43 before deciding to acquire or hold the product.
OnePath Custodians currently does not charge for ANZ EasyTransact and the Super Clearing Service but reserves the right and may do so in the future. Where this occurs, notification will be provided to existing users.
Click on the link below to access helpful guides for EasyTransact users.
Click on the link below to find answers to some common questions about using EasyTransact.
Click on the link below to find the Direct Debit Form required for completion when registering for EasyTransact.
For further information about EasyTransact refer to the Product Disclosure Statement or contact Employer Services:
Important information: The Super Clearing Service offered via ANZ EasyTransact is issued by OnePath Custodians Pty Limited (OnePath Custodians) ABN 12 008 508 496, AFSL 238346, RSE L0000673.
This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs. Before acting on this information, you should consider whether the information is appropriate for you having regard to your needs, financial circumstances or objectives. You should read the ANZ EasyTransact and the Super Clearing Service Product Disclosure Statement (PDS) available by calling Customer Services on 13 47 43 or by visiting anz.com before deciding to acquire or hold the product.
OnePath Custodians currently does not charge for EasyTransact but reserves the right and may do so in the future. Where this occurs, notification will be provided to existing users.
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As a participating employer, you can register for ANZ EasyTransact by :
