Superannuation fund Asset Super will embark on a marketing campaign to push its employer members to adopt electronic contributions to the fund.
The marketing campaign follows recent work done between Asset Super and its administrator Australian Administration Services (AAS) on improving an existing employer online facility.
"We have been collaborating over the past few months on improving the online facility so that it is easier for employers to use and has improved functionality," Asset Super chief executive John Paul said.
"Once the project is finalised in May, my field staff will be working with AAS to actively promote the new facility to employers."
The bulk of the fund's employers (68 per cent) still use paper-based contributions.
In one instance, the fund received a note along with a cheque that said: "Payment for Sue."
"These are the sorts of situations we have to deal with. We had to trace the payment and it cost us money and time," Paul said.
He said he supported the initiatives of the Cooper review's Superstream paper, which urged funds to take up the electronic transfer of funds.
"We have been pushing for this for some time. Electronic commerce will better place funds to match employer and employee contributions," he said.
"There is a lot of cost and time when it comes to reconciling contributions."
The Association of Superannuation Funds of Australia has urged funds to adopt ecommerce initiatives on the back of the Cooper review's Superstream recommendations.
