Friday, September 26, 2008

What Type of Payments Does Superconnect Clearing House Handle?

I had a person ask me today "What type of payments does the Superconnect Clearing House handle?"

Firstly I must point out that the Superconnect Clearing House is a superannuation payment system. Any type of superannuation payment can be handled. There is the normal superannuation contribution that employers make on behalf of their employess and then there are others as well such as an employee's salary sacrifice payment. 

An employee can also make payments on behalf of her/his spouse to a designated account within the employee's superannuation fund. There is also provision for volunatary payments made to a superannuation fund by the employer or by the employee.

Each of these different types of payments are made seperately within the Superconnect Clearing House so that the receiving fund can make note of what the payments are for and where the amounts should be credited.

There is more about this on our website at the Superconnect Site.

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