A Unique Superannuation Identifier (USI) is a number used by the Government to identify different super funds and specific products within a super fund. USI was established in July 2014 as part of the ‘SuperStream’ system and is used for online rollovers when changing funds and making super contributions.
SuperStream is how businesses pay employee superannuation guarantee (SG) contributions to super funds. SuperStream was introduced as a result of Australian Government superannuation reforms. It is mandatory for all employers making super contributions, and all APRA-regulated super funds and self-managed super funds (SMSFs) receiving contributions.
Previously, super funds may have used either an Australian Business Number (ABN), Superannuation Product Identifier Number (SPIN), or a Superannuation Fund Number (SFN). The USI has now replaced all of these for APRA-regulated super funds, however, some Self-Managed Super funds (SMSFs) may still have an ABN.
How do I find my Super fund’s USI?
Your super fund should have the details on their website, although it sometimes takes a bit of digging to find them. The USI can often be found in the company’s Letter of Compliance or in the Frequently Asked Questions (FAQs).
The Australian Taxation Office (ATO) has also published the USI and Spin Lookup Table to help Australians find data for APRA-regulated (Australian Prudential Regulation Authority) super funds.
The table lists the following information:
- ABN
- Name
- USI
- SPIN
- Product Name
- Contribution restrictions.
Do I have a USI on my Self-Managed Super Fund (SMSF)?
SMSFs do not have a USI as they are not regulated by APRA. They instead use a combination of their ABN, bank account details, and Electronic Service Address (ESA) to make SuperStream contributions.
In order to receive SuperStream data, your SMSF needs an ESA, which you can get from an SMSF messaging provider, a tax agent, accountant, or bank. The ESA acts as an ‘alias’ to cover the URL and IP address of your super fund and protect your privacy.
Compare Super funds with Canstar
Choosing a super fund can be a difficult and confusing process – it’s important to read the Product Disclosure Statement (PDS) and terms and conditions before making a purchase decision. If you need help choosing, see the 60+ superannuation funds rated by Canstar in its latest Superannuation Star Ratings.
If you’re comparing Superannuation funds, the comparison table below displays some of the products currently available on Canstar’s database for Australians aged 30-39 with a balance of up to $55,000, sorted by Star Rating (highest to lowest), followed by company name (alphabetical). Use Canstar’s superannuation comparison selector to view a wider range of super funds.
Fee, performance and asset allocation information shown in the table above have been determined according to the investment profile in the Canstar Superannuation Star Ratings methodology that matches the age group you selected.
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