Navigator unveils free super clearing house
Navigator has introduced a free online system which it claims will help employers administer payments to different employee super funds when choice begins on July 1.
According to Navigator’s chief operating officer, Grant Salmon, without appropriate assistance and advice, employers could be confronted with extra administration and business costs. The company claims experience from Western Australia suggests workloads could increase by up to 8 per cent.
Salmon said the new system, Superpay, acts as an administrative clearing house for super contributions.
He said the system, which is being delivered by Essential Computer Systems, will be free to employers who elect the Navigator Super Solutions Employer Service as their default superannuation provider.
“Superpay will ensure the seamless integration between the employer, Navigator and external funds,” Salmon said.
He explained the system receives files from employers, stores them, and then passes them to external funds where required.
The system allows employers to provide contribution advice and payments for all funds through one system, he said. The software then automatically distributes data and payments to the correct location, recording all transactions and sending information alerts.
“Navigator is looking to provide the best administrative solution for choice of fund without increasing employer costs. Some competitors are charging employers for use of their clearing house software but we wanted to ensure all employer costs were limited,” Salmon said.
The company expects the system to be most useful to businesses employing up to 100 staff, which may not have dedicated administration staff. Navigator also provides training and support to employers using the system.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
