What is SuperChoice Direct?
SuperChoice Direct operates as a clearing facility for employers. It enables employee superannuation contributions to be transferred along with member registration to any complying superannuation fund in Australia.
In today's highly regulated superannuation environment SuperChoice can help mitigate errors, reduce processing times and increase satisfaction levels for payroll staff struggling to administer superannuation manually. The online functionality permits successful deployment of default and choice contributions concurrently.
The service has grown considerably since choice-of-fund legislation was introduced in 2005 and now administers payments for over 42,000 employers electronically. SuperChoice validates and dispatches transactions by checking multiple reference fields including SPIN number, account number and employer number. This significantly reduces the incidence of returned payments due to incorrect or incomplete details.
SuperChoice is the technology behind some of Australia's largest Superannuation Administrators including AAS, AXA and Mercer and maintains a lengthy list of Superannuation Fund clients.
Super is a nightmare, we have 400 employees and 90% participate in choice.
Recent confession of one frustrated payroll officer.