Superannuation Data and Payment Standards

The Government has released for comment exposure draft legislation and a draft explanatory memorandum for the Superannuation Legislation Amendment (Stronger Super and Other Measures) (No. 2) Bill 2012 amending the Superannuation Industry (Supervision) Act 1993 and the Retirement Savings Accounts Act 1997 establishing a compliance regime for the superannuation data and payment regulations and standards that applies to trustees of regulated superannuation entities and employers.

The superannuation data and payment standards may specify the format of 1 or more unique identifiers to be included in superannuation payments and information.

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