The Australian Prudential Regulation Authority (APRA) and the Australian Taxation Office (ATO) issued a joint letter to RSE licensees on the implementation of Payday Super ahead of its 1 July 2026 commencement, setting out regulatory roles, the key operational changes for funds, and the supervisors’ expectations on implementation readiness. Payday Super, legislated in November 2025 with regulations released in February 2026, is intended to help address unpaid superannuation, which the ATO estimates exceeded AUD 6 billion in the last financial year. The ATO is the lead regulator and may determine superannuation data and payment standards (SuperStream), while APRA generally has administrative responsibility for RSE licensees and the ATO for employers. From 1 July 2026, RSE licensees must receive and allocate employer contributions to member accounts, or return them, within three business days of receipt. The letter also highlights SuperStream 3.0 commencing on 1 July 2026, including a Member Verification Request service and approval of the New Payments Platform as a payments method, and notes the ATO’s concern that a material number of RSE licensees are not on track to deliver all elements of SuperStream 3.0, particularly the Member Verification Request service. It adds that a technical amendment to the SIS Regulations is planned for certain contributions not required to be accompanied by SuperStream data, and APRA does not plan to prioritise supervisory attention to processing such contributions while that amendment is progressed. RSE licensees are reminded that significant breaches of Payday Super requirements would require a breach notification to APRA, and that APRA expects contribution processing to be treated as a critical operation under Prudential Standard CPS 230 Operational Risk Management. The ATO and APRA expect relevant RSE licensees to revisit implementation timelines as needed and will engage further with relevant RSE licensees directly on readiness.
Australian Prudential Regulation Authority 2026-03-25
Australian Prudential Regulation Authority and Australian Taxation Office issue readiness letter for 1 July 2026 Payday Super start
The Australian Prudential Regulation Authority (APRA) and the Australian Taxation Office (ATO) issued a joint letter to RSE licensees about implementing Payday Super, effective 1 July 2026, to address unpaid superannuation. The ATO will lead on superannuation data and payment standards, while APRA will oversee RSE licensees, who must process employer contributions within three business days. The letter also highlights the commencement of SuperStream 3.0 and notes concerns about RSE licensees' readiness, particularly regarding the Member Verification Request service.