Link Group has been awarded a contract by Aware Super to provide defined benefit administration to former Victorian Independent School Superannuation Fund (VISSF) members.
The completion of Aware Super and VISSF’s merger was announced in December and followed the completion of the successor fund transfer.
Aware Super’s executive consultant corporate development, Michael Dundon, who is leading the fund’s merger team, said the move to appoint Link Group would support a seamless transition for VISSF defined benefit members.
“We’ve retained Link Group to ensure customer experience across our platform and communications is simple and engaging for all former VISSF defined benefit members and the transition to Aware Super is as smooth as possible,” he said.
“This new relationship with Link Group will complement the significant project that is currently underway to in-source our broader member administration. This project is expected to be delivered in stages over the coming 18 months.”
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.