Payday Super: What is the Member Verification Request

What new process will let employers check if a member exists and whether a fund can accept a contribution?

It's called a Member Verification Request, and it's becoming a required step before making a first-time SG contribution.

Under payday super, employers must submit a Member Verification Request (MVR) before making an SG contribution for a new employee for the first time. The MVR confirms two things: that the employee has an active account with their nominated fund, and that the fund is able to accept contributions on their behalf.

This step exists to reduce the volume of rejected contributions, one of the most common causes of compliance headaches under the current system. By verifying before you contribute, you avoid the situation where a payment is returned after the fact and you're scrambling to resubmit within the deadline.

Think of the MVR as a standard part of employee onboarding, sitting alongside collecting their TFN and bank details. The earlier it's run, the more time you have to resolve any issues before their first payday arrives.

Beam supports Member Verification Requests as part of its clearing house functionality, integrating directly with the Microkeeper payroll workflow.

‍

Read the full blog on Payday Super Questions Answered

‍

_{The Q&As is provided by Microkeeper. The information about Beam in the Q&As is provided by Precision Administration Services Pty Ltd (ABN 47 098 977 667, AFSL 246 604) (Precision), issuer of Beam. Microkeeper does not provide advice or a recommendation in relation to Beam or any other clearing house product. The opinions and comments shared by people in this article are theirs alone, and they’re not necessarily shared by Precision.} 

_{Precision is wholly owned by Australian Retirement Trust Pty Ltd (ABN 88 010 720 840, AFSL 228 975), trustee of Australian Retirement Trust (ABN 60 905 115 063). The information about Beam is general information only. It’s not based on the specific objectives, financial situation or needs of your business. So think about those things and read the Product Disclosure Statement (PDS) before you make any decision about Beam products. For a copy of the Beam Clearing House PDS, contact Microkeeper or visit their website.}