Thousands take-up AustralianSuper clearing house
Thursday, 16 April 2015 11:45am

More than 26,000 Australian companies have taken up the offer of a specialised funds clearing house supported by AustralianSuper.

Known as QuickSuper, owned and operated by Westpac, the online program manages super payments for companies of all sizes and at no cost to registered employers.

AustralianSuper's group executive service and advice, Shawn Blackmore, said manually overseeing employees' regular super payments and often distributing them to a variety of different funds is one of the biggest administrative burdens on business.

"QuickSuper requires just one payment for a company's entire workforce - regardless of how many super funds the staff members belong to. It's suitable for all types of businesses, and meets all of the recent government super reforms," Blackmore said.

Companies with more than 20 employees are required to meet the government's new SuperStream regulations by 1 July.

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