Coal industry fund Auscoal has moved to modernise its administration arrangements via DST Global Solutions specialist Bluedoor Technologies.
The fund announced this week that it would be implementing the Bluedoor superannuation platform to administer its superannuation and pension schemes.
Announcing the move, Auscoal chief executive Bruce Watson said the technology would help the fund improve its quality and customer service and assist in the rollout of future products.
“With enhanced workflow and reporting processes together with increased data availability, we expect to be better informed about our membership and provide more timely information to our stakeholders,” he said.
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.