EmployersFIRST

Employers with 20 or more employees are reminded they have less than three months to comply with new Superstream reporting obligations.

First Super’s Contact Centre will be closed from 22 December 2014 and will re-open on 5 January 2015. First Super wishes all employers a safe holiday and a happy New Year.

George Lekakis, financial services editor at The New Daily, reports that superannuation providers expect the Abbott government to announce an overhaul of the Australian super industry before the end of the year, but they disagree on how far it should go.

Financial advisers could be subject to tougher requirements under recommendations from the Murray inquiry into the financial services industry.

An upgrade of the secure component of First Super’s website – First Online – is currently being finalised.

Processing everyday superannuation transactions will become easier for employers next year, thanks to SuperStream.

First Super enjoyed a strong 2013/14, with all but one investment option (cash returns) exceeding their annual benchmark targets.

The Federal Government has delayed the introduction of a 12% superannuation guarantee contribution (SCG) rate until 2025/26.