Step 1. Your details
Your details will be pre-filled from the information in your payroll system. It’s important that you check all your details are correct including your:
• business details,
• registered business address, and
• contact details.
To update your business details, select the business identifier type from the dropdown list and simply enter in any change of details that you require.
To make changes to other fields, simply type over the existing content.
When you’re satisfied your details are correct, click “Next” to proceed to the next screen.
Step 2. Payment method
Beam offers multiple payment methods including:
• Direct Debit, and
• Direct to fund.
The payment methods available to you will automatically appear and may vary based on your payroll system.
Adding or removing a Direct Debit account
To add a Direct Debit account, click on “add another” then add:
• the BSB,
• account number, and
• account name.
Click on the “Save” button and a new Direct Debit account will appear on the top of the screen.
To remove a Direct Debit account, click on the account, then select “Remove”. A confirmation dialogue box will appear, confirm your choice and the account will be removed.
Once your payment method is confirmed, click “Next” to proceed to the next screen.
Step 3. Default fund
To complete the Beam onboarding process you will need to select at least one super fund as your default fund. Click here to find out more about choosing a default fund.
In addition to selecting your default fund with Beam, you need to ensure you have registered with your chosen fund. You should read the PDS before deciding whether to acquire, or continue to hold, any financial product. You may need to check relevant industrial awards and employment agreements to see if they oblige you to pay super contributions into a specified fund or limit the funds you’re able to choose as your default.
Adding default funds
Any default funds that have previously been added directly into your payroll prior to registering with Beam will auto-populate here.
If you haven’t added a default fund directly into your payroll prior to registering with Beam you will be directed to add a default fund.
If you would like to use Australian Retirement Trust as your default fund, click on the ‘Select Australian Retirement Trust’ button and you will be able to register as a participating employer.
If you would like to add an alternative or additional super fund, you can search for them using the “Search by” menu and searching by:
• “Fund name”,
• “USI” (Unique Superannuation Identifier) or
• “ABN” (Australian Business Number).
You can select multiple funds and your default super fund selection will appear in the upper portion of the screen.
If you make changes to your default super fund, be sure to provide your new employees with an updated standard choice form.
When sending contribution messages, Beam will send member registration messages for any new or updated employees linked to the default fund.
Removing a default fund
To remove an existing default super fund, simply click on the “X” next to the fund.
Beam will no longer send any member registration and update messages to that fund.
Registering as a Participating Employer with Australian Retirement Trust. Even if you haven’t selected Australian Retirement Trust as your default super fund, you might still like to join as a participating employer. This allows you to easily track payments to the fund and create new member accounts for members who may wish to join Australian Retirement Trust but haven’t completed an application themselves.
Becoming a participating employer is as easy as clicking “Please register me as an Australian Retirement Trust participating employer”. You’ll be directed to read the PDS.
Step 4. Terms and conditions
In the final step, you’ll need to accept the relevant Beam terms and conditions for your selection/s.
A link to the Beam PDS is included in the terms and conditions, which you should consider before acquiring the product.
If you have selected to join Australian Retirement Trust, you’ll also need to accept the Australian Retirement Trust participating employer terms and conditions.
Take a moment to review the details and then, if you are satisfied, accept the terms and conditions and click “Next” to finish.
Congratulations! You’ve completed the Beam registration process and can start making contributions right away
Head back to your payroll and you’ll notice the default fund or funds you’ve selected have now populated in the super settings. You can make changes to your super settings at any time by returning to the Beam wizard where you can update your payment method and your default fund.