With SuperChoice, ANZ and Australian Payments Plus (AP+) leading the charge, the results of a multi-phase pilot program highlight how real-time payments to super funds could soon become a reality, aligning with the nation’s broader payments modernisation efforts.
Putting PayDay Super to the Test
The recent pilot program utilising Australia’s New Payments Platform (NPP) has shown that near real-time payments to superannuation funds are achievable.
Richard Breden, CEO of SuperChoice, remarked, “The pilot to date has been a resounding success. With NPP as the primary payment rails for superannuation contributions one step closer, we are looking forward to the next phase.”
This pilot, conducted with ANZ and SuperChoice, successfully processed over 200 payments totalling around $228,000. As the industry prepares for mandatory PayDay Super in 2026, this initiative aims to align superannuation payments with regular salary payments, enhancing tracking for employees.
“The move to NPP is an exciting step forward in superannuation payments; however, the complexities involved should not be underestimated. Each phase of this successful pilot is critical in demonstrating NPP’s value to all stakeholders in the superannuation ecosystem”, Breden says.
Find out how SuperChoice, ANZ and AP+ are reshaping Australia’s superannuation payment landscape.
Speak with a representative from the SuperChoice team for an overview of the pilot program or read the full article on ANZ Institutional Insights.
Together, we’re building a faster, smarter future for superannuation contributions.