The clearing house capability will enable superannuation funds to receive a single contribution file from employers or a multi-employer file, and match multiple contributions against payment receipt records.
The Bluedoor SuperStream and Clearing House solution allows the processing of default and choice contributions, accepting new member registrations and allowing single-file upload for both employers and multi-employer contributions.
DST Bluedoor said super funds can operate a clearing house service, whether in their own right, through their fund administrator, or through a sub-contracted third-party service provider.
DST Bluedooer chief executive Martin Spedding said the solution was developed to address all security and privacy requirements and meet the clearing house standards put in place by the Australian Prudential Regulation Authority.
“All outbound communication generated by the clearing house to a Bluedoor enabled client or externally to a choice fund will be transmitted using SuperStream-compliant messaging,” said Mr Spedding.
“This functionality will make it easier for all organisations, whether employers, superannuation funds, or payroll providers, to meet their regulatory obligations that have increased dramatically with SuperStream regulations, MySuper, and employee choice of superannuation fund.”
The Clearing House Solution will become operational on July 1 this year, when the additional new SuperStream requirements for contributions are rolled out for employers with 20 or more employees.
