Businesses may face an up to 13‑fold increase in superannuation payment frequency under the upcoming Payday Super reforms, which require super to be paid on payday instead of quarterly from July 1. Employers will also need to transition away from the ATO’s Small Business Superannuation Clearing House, which closes on 30 June.
Recent research highlights potential readiness challenges. A survey of 700 Australian small businesses found 62% of employers who don’t currently pay super on payday expect the reforms to increase administrative effort, while 28% are not aware the changes are coming. 1
In response, Colonial First State (CFS) has expanded its offerings for employers ahead of the Payday Super reforms, making it easier for businesses to manage more frequent contributions and new compliance obligations.
As businesses prepare their payroll and operations for one of the biggest changes to the superannuation system in a decade, CFS has expanded its partnerships and services to make accessing its super solutions for employers easier and more streamlined.
CBA, CFS announce relaunch of Essential Super for business
Essential Super for business is a solution purpose-built to simplify superannuation management for Australian businesses, and it will be relaunched to Commonwealth Bank of Australia (CBA) business banking customers from June 22.
Essential Super for business includes a clearing house payment facility that allows employers to make contributions to multiple super funds through a single transaction, helping businesses manage super payments more efficiently as contribution frequency increases.
“The Payday Super changes will be significant for many small businesses, and preparation is key,” says Rebecca Warren, CBA’s Executive General Manager for Small Business Banking. “Essential Super for business is built to help take the heavy lifting out of super payments for small businesses, making it easier to manage the changes with confidence.”
CFS announces new partnerships with best-in-class software providers MYOB, Employment Hero and Reckon
FirstChoice Employer Super, CFS’s dedicated default super solution for employers, is now integrated with leading payroll and HR platforms MYOB, Employment Hero and Reckon. These platforms help businesses reduce errors and the administrative burden of manual processing by automating super calculations, payments and reporting within payroll. They are also set to play an important role for businesses as super payments become more frequent and the ATO's clearing house closes.
Through its integrations with these platforms, employers can seamlessly select FirstChoice Employer Super as their default super fund, while employees can efficiently learn about and select FirstChoice during onboarding. This streamlined approach helps employers reduce manual processes and minimise compliance risk, while supporting accurate and timely super payments in time for the Payday Super reforms.
Kelly Power, CEO of Superannuation and Investments at CFS said: “Our investment in partnerships, technology and investment capability reflects our long-term commitment to employers, by helping businesses offer super solutions that are built for simplicity and member outcomes.”
Members benefit from top-ranking investment performance
For employers selecting default super arrangements, investment performance plays a central role in choosing a fund for employees.
CFS was ranked #1 and #2 in its best performing MySuper Lifecycle option by independent research body SuperRatings, recognised for delivering strong performance for employer super members in the 2025 calendar year. 2
According to independent research firm Chant West, CFS Lifestage options also delivered the best overall MySuper performance when the performance of all age cohorts are aggregated over one, three and five years to 30 June 2025. 3
In addition, CFS delivered double-digit returns for the 2025 calendar year for most members invested in MySuper options offered on FirstChoice Employer Super and Essential Super, achieving strong growth that was more than 6% above inflation. 4
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Katarina Taurian
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About FirstChoice Employer Super
FirstChoice Employer Super is Colonial First State’s employer superannuation offering, providing easy-to-manage super options tailored for businesses and their employees. It includes access to a clearing house facility, enabling employers to make a single, streamlined payment that is automatically distributed across multiple employee super funds, simplifying administration and saving time.
About Colonial First State
Colonial First State (CFS) is Superannuation and Investments HoldCo Pty Limited ABN 64 644 660 882 and its subsidiaries which include Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) and Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL). CFS is majority owned by an affiliate of Kohlberg Kravis Roberts & Co. L.P. (KKR), with the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (CBA) holding a significant minority interest.
1 Research by Cameron Research, survey conducted in March and April 2026
2 Colonial First State FirstChoice Employer Lifestage 1980-84 and Colonial First State Essential Super Lifestage 1980-84 were ranked #1 and #2 respectively on SuperRatings’ list of Top 10 MySuper Lifecycle options over the 12 months to 31 December 2025. Source: SuperRatings, Media release: 2025 top super performers revealed, dated 20 January 2026.
3 Chant West MySuper Performance Outcomes Survey for FY25 received in November 2025. CFS was recognised by Chant West as having delivered the two highest overall investment outcomes to 30 June 2025 over 1, 3 and 5 years compared with all other MySuper products when aggregating the experience of all age cohorts. Source: Zenith CW Pty Ltd ABN 20 639 121 403, AFSL 226872/AFS Rep No. 1280401.
4 All MySuper Lifestage options offered on FirstChoice Employer Super and Essential Super to members aged 60 and below delivered a net return of 10.1% or higher for the 12 months to 31 December 2025, comprising a majority of CFS MySuper members. This includes MySuper Lifestage (1965-69), MySuper Lifestage (1970-74), MySuper Lifestage (1975-79), MySuper Lifestage (1980-84), MySuper Lifestage (1985-89), MySuper Lifestage (1990-94), MySuper Lifestage (1995-99), MySuper Lifestage (2000-04), and MySuper Lifestage (2005-09). Net returns are calculated after deducting fees and costs. For FirstChoice Super performance data: CFS Funds and Performance data. For Essential Super performance data: https://www.commbank.com.au/personal/superannuation/essential-super/essential-super-unit-prices.html