SuperStream is government legislation which came into force on 1st July 2014. It requires every employer to pay their staff superannuation to funds in a government mandated format. For a full description see What is SuperStream on the Ozedi Direct tab
Think of being "Ozedi Ready" for SuperStream
Ozedi has an arrangement with American Express which allows an employer to pay their superannuation obligations with an American Express card. This not only allows the employer up to 55 days to pay the amount but also earns reward points if it is a rewards card.
If you are an American Express customer, then you can register at www.RewardPay.com.au which will provide you with the customer number needed by Ozedi. Enter these details in the Preferences section.
When you have uploaded a contributions file, the Send to Amex button will be enabled. If there are no errors in your payments at Ozedi, then you can send the payments to Amex via this process. To authorise the payments to be made by American Express, you must log into the RewardPay portal and confirm your approval for the payments to be processed. There is a surcharge for this service and this is clearly shown on the screen at RewardPay.
Ozedi will display the Amex payment status at the On Hold tab. Once your approval for payment has been given, and Amex has transferred the money to the funds, Ozedi will automatically process the remittances to the funds. You can process the remittances manually if you wish to.
NB Allow 2 days for the funds to be received by the superannuation funds if using the Amex payment method.
A superannuation fund has told me I have to make a separate payment for every employee.
This is not true. The SuperStream legislation allows you to pay up to 10,000 employee contributions with one payment and a fund cannot require you to make a separate payment for every employee.
The SuperStream regulations state that every fund has to accept payments into their bank account via EFT. BPAY can only be used if employer and fund agree.
Cheque payments are prohibited under SuperStream regulations