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07 3850 1200
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07 3850 1200
22 June 2007
Simple Super with SuperVisor II
Superannuation fund administration software developer, Supercorp Australia, today released SuperVisor II version 2.12 with enhancements to help funds administer superannuation under the new “Simple Superannuation” regime.
“SuperVisor II version 2.12 allows our clients to be up and running ready for the 1st of July changeovers to Simpler Superannuation”, says Kurt Groeneveld, managing director, Supercorp Australia.
New Account Based Pensions and Transition to Retirement Income Streams are able to be effortlessly set up on the system. Utilities can also allow clients to convert existing allocated pensions into these new structures if required in one easy step. Functionality has also been implemented to identify contributions to members with no TFNs, the extra tax collection for these contributions, and tools to assist administrators to check on contribution cap limits. The processes have also been put in place for compulsory and voluntary release authorities from the ATO.
SuperVisor II v2.12 now caters for the changes for tax on members over 60, new component splitting for members under 60 and the specific calculations for death benefits. All benefit reporting has been updated to the new designs from the ATO. Easy tools have been put in place to crystallise tax components when the administrator is ready and recalculate if necessary. And in readiness for changes to the Member Contribution Statement, the structure has been put in place in the roll-ins and chart of accounts.
“The new changes to superannuation could overwhelm administration companies with the amount of information that needs to be learnt, understood and implemented”, says Groeneveld. “SuperVisor II allows them to concentrate on their internal processes and staff training rather than the calculations. Supercorp will also be assisting clients with web based training and Super Simplification sessions at the annual user group conference.
”Supercorp’s SuperVisor II v2.12 is available today. The administration system can scale from a small network to an enterprise level application.
For more information contact Supercorp Australia on 07 3832 7300 or visit http://www.supercorp.com.au/ .
About Supercorp Australia:
Supercorp Australia has been developing and implementing software solutions for the superannuation industry for 20 years. It currently provides administration software for industry funds, DIY funds administrators, boutique operators and corporate funds managers. Its prime differentiator is the delivery of a single flexible solution that seamlessly integrates member details, investment information, general ledger and Web information across a full suite of 11 modules to help these companies reduce risk, ease compliance and enhance information delivery to customers.