Understanding rollovers

On behalf of your client, you can initiate a rollover from an external superannuation fund into your client's Macquarie superannuation account in Adviser Online. You must have full or limited transact authority.

To initiate the rollover:

1. Log in to Adviser Online
2. Search for the client’s account using the global search bar
3. Select Account details
4. From the ‘Account summary’ tile, click Rollover from external account
5. Enter the Unique Superannuation Identifier (USI) of the APRA fund and select Search. The details of the APRA fund will be populated.
6. Enter the client’s account/policy/membership number
7. Select if the rollover is for the entire balance or a partial amount
8. If rolling over a partial amount, enter the rollover amount
9. Select Review
10. Confirm rollover details then select Submit.
     

Before you submit a request

• If you’re requesting to rollover the entire balance, this will automatically cancel any existing insurance cover associated with the account. If your client wants to continue to hold insurance cover, don't complete this request, or request a partial rollover instead, until a replacement application for insurance has been assessed and accepted by the insurer (if applicable). If you’re requesting to rollover the entire balance, you should consider your client's existing employer contribution arrangements and make any required changes.
• If you need to request an in-specie transfer of assets, you should complete that request before starting a cash rollover of the entire balance.
• Rolling over your client's super benefit to Macquarie may limit their ability to lodge or vary a deduction notice with the external fund.
• Once approved by the client, this request can’t be cancelled by us. Your client will need to contact their external fund and ask them to reject the rollover request.
• If your client's personal details have changed, they may need to contact the external fund to update their records before they action this request.
• Please contact the external fund to confirm if they have any additional requirements before they can action this request.

Rollovers initiated in Adviser Online will require authorisation by your client via the Macquarie Authenticator app. Your client will receive a notification from the app with the rollover details when you submit the request. They can approve or deny the request directly from the app.

Once your client approves the rollover request, you'll receive a notification in Adviser Online.

Some requests won’t be able to be submitted through Adviser Online. See Submitting requests that can’t be completed digitally for a list of scenarios preventing you from initiating a digital request.

In addition to these scenarios, you won’t be able to initiate a rollover in Adviser Online for the following:

• Pension accounts. We’ll require a Pension Update Request Form to initiate a rollover for a pension account. See Updating a pension for more information.
• Super accounts created to receive rollovers or contributions as part of a pension update
• Rolling over from another Macquarie Super account or an SMSF.
• Accounts with a closure in progress.

Once you’ve submitted an external rollover request, you can view the status of the request in Request Centre.

• Awaiting client approval: Your client has not approved the request
• In progress: Request has been approved by your client and is being processed
• Cancelled: Request has been cancelled and not processed
• Completed: The request has been sent to the external fund for them to process the rollover.

See Making Adviser Initiated Payments from a Super account.

You can request a rollover into your client's Macquarie Pension account using the Pension update request form. You can find this form on Adviser Tools. 

See Updating a pension for more information.

See Making Adviser Initiated Payments from a Pension account.

From 1 October 2021 to rollover super to or from your SMSF, you’ll need to use SuperStream. To use SuperStream, your SMSF needs an active Electronic Service Address (ESA). We don’t offer an electronic message service that provides rollover SuperStream services. You can get an ESA from an external SMSF messaging provider, or alternatively, you may like to consider appointing a professional to help you manage SuperStream rollovers on your behalf. 

Once you’ve engaged the ESA provider to send through the SuperStream message, they should also provide you with the account details of the receiving fund to arrange the transfer of cash. If your client doesn’t have a Macquarie superannuation or pension account, you'll need to complete an application. You can do this by submitting an online application. 

If you’re rolling over funds into an existing pension account, you’ll also need to provide a dated and signed Pension Update request form. You can find this form on Adviser Tools.

For more information, see Understanding SMSF rollovers and contributions.

Processing times begin only when we’ve received all necessary requirements for a request. To avoid delays, please ensure you’ve completed all forms and uploaded all supporting documents before submitting.

You can view the status and progress of your request in Request Centre.

See below for processing times:

• rollovers out of Macquarie
• rollovers into Macquarie.

Your submitted requests may also be subject to our verification processes.

The status of the rollover request will move to ‘Completed’ once we’ve sent the rollover request to the external super fund. Before sending us the funds via SuperStream, the external super fund may require additional information. We are unable to contact the fund on your behalf, so please contact them to confirm if anything further is required.

If your rollover request has been rejected, we’ll notify you in Request Centre under a new request. You’ll need to contact the fund to confirm the reason for the rejection.