How long does it take my payment to reach a superannuation fund?

The expected time for a payment to reach Nominated Superannuation Account providers varies. For this reason, we recommend that you allow up to Ten (10) Business Days for payments to be received by all Nominated Superannuation Account providers.

Accurate contributions paid before 5pm EST via Electronic Fund Transfer (EFT) or BPAY will normally be received (by Your Fund by other Nominated Superannuation Account providers administered by an associate of TSCH, and by our Payment Agent) within Three (3) Business Days

The day your payment reaches the Nominated Superannuation Account provider depends on three factors:

  1. How you make your payment to SCH Online. Payments made by Authorised Bank Transfer (ABT) take three days longer to process than payments made by Electronic Funds Transfer (EFT) or BPAY;
  2. Our processing times, which are explained in Section 2.3.1 Contribution and payment timeframes of the SCH-Online PDS; and
  3. The time for the payment to reach the Nominated Superannuation Account provider if our Payment Agent is used to make payment to the Nominated Superannuation Account Provider.

You can check the time it normally takes payments to reach specific destination funds hereOpens in new window.

It’s important that you submit your contribution data and pay your contribution in time for it to reach the destination fund. Once your payment is received by a Fund, they may take additional processing time to allocate the payment to your Employee’s account. Please note that payment processing time frames are not guaranteed and although all due care is taken by SCH Online, Employers remain responsible for ensuring that the their superannuation guarantee (SG) payments have been made to the correct fund and on time.

We recommend reading Section 2.3.1 Contribution and payment timeframes as well as Section 4 Risks of the SCH-Online PDSOpens in new window for further detail.