How to update the Student Super USI
From 1 June 2024, Student Super’s USI, ABN and for some members, their member number has changed. Your employee has been emailed a new super choice form. Use this to update your payroll system.
It is important that your employees’ records are updated to ensure their super guarantee payments can be processed successfully. Contributions made to the old USI and ABN will bounce from 31 May 2024.
These are the details to make super payments to Student Super:
How to update your employee’s super details
If you are making a super payment to a Student Super member after 1 June 2024 you need to use:
- Student Super’s new USI is 43 905 581 638 021
- Student Super’s new ABN is 43 905 581 638
- And if relevant, their new member number - the employee can provide you with their super choice form or they can find this by logging into their super account.
Your employees who are with Student Super have been emailed a new super choice form and letter of compliance they can give to you. Use these details to update your payroll system.
For any employee who accrued super for a period prior to 1 June 2024 and it hasn’t been paid, you will need to use the new Student Super USI and ABN and if relevant, member number. If you use the old ABN and USI and the employee’s old Student Super member number, the payment will bounce.
All employers must pay super contributions through a method that meets the SuperStream rules.
ATO small business clearing house
The ABN and USI will be automatically updated on the ATO’s clearing house. All you need to do is search for Student Super’s new USI (43 905 581 638 021) and ABN (43 905 581 638).
Accounting software that complies with SuperStream
Xero
Add the new Student Super fund details to your list of super funds. Search for the USI: 43 905 581 638 021 and this will add it to the drop-down list of super funds when adding to an employee record. You can also mark the old one as inactive.
Find the employees who are with Student Super and update the super fund in their records.
Xero resources:
MYOB
Update the super fund in the software’s list of super funds. Student Super is one of the standard super funds on the AccountRight list of funds. You should be able to find Student Super from the list - just make sure it has these new details:
- USI: 43 905 581 638 021
- ABN: 43 905 581 638
Update the employee’s super details in their records
If the wrong USI and ABN is appearing in the drop-down list, you can contact MYOB.
FAQ
Why do I need to update the USI and ABN and member numbers for employees with Student Super?
On 1 June 2024, Student Super will change master trusts, becoming part of the OneSuper Plan. When this happens, the USI and ABN for the super fund will change.
SuperStream uses a super fund’s USI and ABN to identify the super fund. The member number identifies the member at the fund.
This means if an employee’s super payment is paid to the old USI and ABN, the fund won’t be recognised and the payment will bounce. To ensure that future super guarantee payments are received by the quarterly deadlines, it is important to update your super records for employees that are members of Student Super.
When do I need to make the update by?
The new USI and ABN are valid from 1 June 2024. The old USI and ABN will stop working on 31 May 2024. We recommend that you update the USI and ABN and employee’s member number as soon as possible from 1 June 2024.
The next quarter deadline for super guarantee payments is 28 July, 2024.
Where can I find my employee’s Student Super member number?
For some Student Super members, their member number may have changed. All members have been emailed a copy of their pre-filled super choice form and letter of compliance that they can provide you.
If they are unsure where to get a copy, they can contact our Member Services Team.
Can I pay by EFT?
No. Employers need to use a SuperStream compliant system to make super payments. This allows you to make multiple super payments to different funds, with just one transfer. It also sends the payment with data about the payment, e.g. we can see that a $1,500 employer super contribution for Jane Smith is made up of $1,000 in superannuation guarantee contributions and $500 in salary sacrifice contributions.
Do I need an employer number with Student Super?
No. You don’t need to be registered with us in order to make a payment. Just leave that field blank.
I’m still having issues, who can I contact?
If you are having troubles setting up or updating the USI, ABN and the employee’s member number on your payroll software, we recommend that you contact the software provider directly. They will have the technical expertise to guide you.
Student Super
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You should consider the Product Disclosure Statement, Reference Guide, Financial Services Guide and Target Market Determination before making a financial decision about this product.
This is general information only and does not take account of your personal objectives, financial situation or needs. Before acting on it, consider if the information is appropriate and whether you need to speak to an accredited professional. When considering financial returns, past performance is not indicative of future performance.
This product is issued by Diversa Trustees Limited (ABN 49 006 421 638; AFSL No. 235153; RSE Licence L0000635) as trustee for Professional Super which is a sub-fund of OneSuper (ABN 43 905 581 638; RSE R1001341). Professional Superannuation Management Pty Ltd (ABN 31 617 160 791; AFSL No. 499786) (PSM) is the Promoter of Professional Super, which is marketed under multiple brands including Student Super.
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