Forum Discussion

Kohia's avatar
Kohia
Experienced Cover User
3 years ago

SUPER FUNDS CALLED FUTURE SUPER AND BT SUPER- FOR LIFE

Im trying to pay our employees superannuation and when it comes to record I get a message that there is an issue when I go back to the list of payments there is red mark against several transactions that need to be paid.

when i click on the red asterix i get this message  "   THIS FUND CVAN NO LONGER RECEIVE CONTRIBUTIONS USING PAY SUPERANNUATION.  PLEASE EDIT THE FUND FROM THE SUPERANNUATION FUND.  LIST WINDOW AND SELECT A VALID FUND NAME FOR IT."  

 

Seriously do I just pick another name of a superfund that looks like it might work.   Has MYOB decided there is no longer allowed to be choice in what superfund employees decide to use.  Please let me  know so I can make payment that is already late

 

1 Reply

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  • vidario1's avatar
    vidario1
    Trusted User
    3 years ago

    No, you can't just choose a 'similar' fund and hope for the best :) 

     

    This happens from time to time, and has nothing to do with MYOB really. Typically when there's a change to a superannuation fund. E.g. Vicsuper have now become part of Aware Super, Christian Super has now become part of Australian Ethical, etc. When this happens, you'll typically have to change the super fund details in MYOB also. 

     

    In your case, BT Super has merged with Mercer Super, so it's possible this means the super fund details have changed. I'm not aware of any changes to Future Super however. You can find out by contacting the super fund directly, but at the end of the day, you should put the onus on your employee - it's their responsibility to ensure that you have their correct super fund details! Tell them their super fund details are no longer valid, and ask them to complete another super choice form.

     

    PS. You can also use the ATO's stapled super funds search to verify the correct details for your employee.

     

    Cheers

    vidario

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