Superannuation fund notification

The Government has released for public consultation an exposure draft for the provision of better information for employees regarding their superannuation entitlements. 

This measure will require superannuation funds and retirement savings account (RSA) providers to notify active members quarterly, by electronic means, that they have either 'received' or 'not received' contributions during the quarter, and maintain a web-based portal for members to consult; or alternatively to issue six monthly notices which show contributions made.