Media Super's switch of administrators from Pillar to Mercer is on track for a 1 March transition, with all legacy issues such as a backlog of payments and the transition of member details likely to be resolved by the end of May, according to Media Super's general manager of operations and compliance, Michael Rooney.
The main delay to members while the systems are switched over will be an interruption to benefit payments such as death benefits from the end of February into May. The fund will be able to pay 80 per cent of the balance at the time of the turnover with the rest paid once the transition is finalised, Rooney said.
There will also be an eight to 10-week period where details won't be available online, although members can still access the call centre in this period, he said.
However, there will be immediate benefits to members once the transition is complete. They will have more details available on the member secure site, will be able to pay personal contributions via Bpay, and have better access to information on how their paperwork is progressing, Rooney said.
Members will also have access to limited personal advice from financial planners through the call centre once the transition is complete, he said.
On the trustee side, the fund will have access to a module allowing direct access to the fund's reports, rather than having to request the reports, a process that can currently take weeks, Rooney said.
The transition is progressing well and the two administrators were both working hard to ensure a smooth transition, Rooney added.
