Pay-day Super - Still processing

This is exactly what has happened to me, the funds came out of our business account on the 25th June yet have still not landed into the employee super accounts as at 1st July. Our employees wanted their super payments to be in their funds in the 2025/26 financial year not the next financial year. Our employees are not happy. Also, where does the money go for days before it lands in the super fund accounts? When I was doing it manually the funds were deposited in the superfund accounts by the next day at the latest.

janep​ I suspect they use a 3rd party to process their super.  It's probably out of MYOB's control to an extent.  Although that doesn't mean they can't go to them and put a rocket under them.  Doesn't make MYOB look good cause everyone will think they are investing the money for a week...

JaneneP​ Currently it seems to take about 7 days.

I processed a test run on Thurs 18/06.  It didn't move from Processing to Completed until Fri 26/06.

Have last weeks (26/06) is still Processing.  I'd say it will change by the end of this week.

SDW​ I suspect MYOB will have to tighten up their processing times moving forward.  Even their Super help note says 3-5 days but it appears to be taking 7-8.

In the old Super Portal it was very quick too.

Once they get a bit of heat from businesses worried about getting fined due to payday super taking too long to hit accounts I'd say they'll be forced to act.

This is ridiculous! And the wait time is horrendous! Not good enough MYOB. We expect more for the fees we are paying. In the very least MYOB should ensure that PayDay super is compliant with current legislation. We use software to ensure compliance. Will MYOB be paying penalties and lodging non compliance reports?

Where does the money go for 7 days?  Most banking environments process overnight, why is MYOB holding funds?

BJ3​ This is now an ATO issue as Concessional Contribution Caps for those maximizing their superannuation for FY25/26 have not been met.  Not sure where to go with this, I am hoping MYOB will respond

I would expect staff need to make their own contribution directly to their fund towards the end of June if they want to claim it.  I processed the final pay on June 30th (I can’t do it earlier as pays vary significantly each week). 

Hi Rosanna1,

Thanks for sharing your feedback. It’s completely understandable why this has been frustrating, especially when you’re relying on the software to help you stay compliant.

MYOB works with our clearing house to manage the payment from authorisation through to sending it to the fund, and when a contribution has taken longer, it’s often been due to the fund’s allocation step. This forum post covers the most common questions about Pay Super processing timeframes.

Cheers,

Princess

Hi Janene, I have the same issues with Processing Payment delays. I actually checked my Superannuation Fund transactions. The contribution is actually in there from the same day submission as yours but the Clearing House that MYOB uses hasn't reported the successful payment yet. Have you heard anything back with yours? I suspect the increased volume has a lot to do with it.