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Superannuation clearance

Fredman
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Superannuation clearance

Why does it take over a week for payments I make to employee superannuation to appear in each employees super accounts? It comes out of my business account on day 1 but doesn't appear in the employee superannuation account (including mine as I'm an employee) for 7 to 8 days?

 

Where is this money sitting and who is getting the benefit of it - MYOB????

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Fredman
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Superannuation transfers

 
Yanike_S
MYOB Moderator
1,651 Posts
MYOB Moderator
MYOB Moderator

1,651Posts

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Re: Superannuation clearance

Hi @Fredman 

 

Thanks for your post. It usually takes around five business days for superannuation payments to be authorised, processed and received by super funds. However, delays can occur (such as payments being rejected due to data errors), so we recommend allowing up to 10 business days for your payment to process.

Kind regards,
Yanike

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