CLEARING HOUSE

The introduction of ‘Choice of Fund’ has seen more employees choose their own individual fund.  For employers, this has resulted in an increase in the administration of contribution payments and payroll deductions.

What is a clearing house?

A clearing house helps solve administrative headaches for employers. It enables employers to send one payment and one contribution form regardless of how many super funds your employees choose – the clearing house then distributes payments to each of the different funds.

Automatic Data Processing (ADP) is one Clearing House solution.  Their services include the clearing of all employee deductions such as health cover, social club, garnishees etc, where the payment is made electronically. 

For further information on how to access this service and information about applicable fees, please go to the ADP website, or contact one of Westscheme's Client Service Managers on (08) 9218 4000 or
1800 198 503.