Table of Contents
If you’re one of the 15 million Australians with a superannuation account, then chances are, at some point, you have been asked to supply your USI, also known as your ‘Unique Superannuation Identifier’.
Usually Australians are asked to supply their USI when they roll over their super into the one account or change funds.
The USI was introduced in 2014 as part of the SuperStream system reforms, following a lengthy review that analysed the structure and efficiency of Australia’s superannuation scheme.
Previously, Australians needed to supply our USI when we started a new job and wanted to stick with the same fund, rather than joining the company’s default fund. However, since ‘super stapling’ was introduced by the Federal Government in 2021, workers automatically take their super fund with them to their new job, unless they indicate otherwise.
What is a Unique Superannuation Identifier?
A unique superannuation identifier (USI) is the number that is used to identify an individual super fund and individual superannuation products. Think of it as a code that links you to your superannuation account.
As the ATO notes, a fund may have a USI for each super product or one USI for the whole fund, and the USI is used to pay contributions into members’ funds.
This is why it is vital that employers have an accurate USI for each employee, as it allows them to identify either the super fund and/or the superannuation product they need to pay their employees’ super contributions into.
In the past, super funds used a Superannuation Product Identifier Number (SPIN), or a Superannuation Fund Number (SFN), or even an ABN, but in 2014, these options were replaced with the single USI.
Featured Partner
1
eToro
Manage your SMSF on eToro. In Control, Never Alone.
Get zero commission on ASX and Global Shares.
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD
How do I find my Unique Superannuation Identifier?
There are a number of ways to fund your USI, the most common of which is to look up your most recent superannuation statement or log on to your account online, where you can easily find your USI.
Alternatively, you can contact the ATO for access to your USI. The Government’s SuperFund Lookup page is also a handy tool for finding your USI.
Security and fraud risks
Unfortunately, because large amounts of money are held in superannuation accounts, the sector is increasingly vulnerable to hacking and scammers.
The ATO has warned that a “threat agent”, such as an internal staff or external collaborator, could attempt to create false USIs on members’ behalf or change the bank account or service address details of authentic USIs.
Always be vigilant about protecting your USI, and ensure the veracity of any messages on social media or via email that purport to be from your super fund. Make sure it’s genuinely your fund you’re interacting with.
Featured Partner
1
eToro
Manage your SMSF on eToro. In Control, Never Alone.
Get zero commission on ASX and Global Shares.
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD
Frequently Asked Questions (FAQs)
What is the unique superannuation identifier for an SMSF?
Generally speaking, SMSF’s will use their ABN number as an identifier rather than a USI, as they are not regulated by APRA.
What if I can’t find my USI?
If you’re still having trouble accessing your USI, you can contact the ATO who will help you locate it.
