IOOF’s Spectrum Super has been appointed by Bendigo and Adelaide Bank to manage the group’s $250-million employee superannuation account.
The group announced that the appointment was made in light of IOOF’s strong service ethic and the breadth of its investment menu, and arose out of the group’s desire to move to a single super provider.
“IOOF managed the old Bendigo scheme for many years and staff have always valued the personal service provided by its relationship managers and call centre staff,” said Marnie Baker of Bendigo and Adelaide Bank executive corporate resources. “I’m looking forward to staff across the merged group being able to take advantage of the same levels of service when it comes to their super. Consistency in employee benefits is very important to us.”
Superannuation funds have posted another year of strong returns, but this time, the gains weren’t powered solely by Silicon Valley.
Australia’s $4.1 trillion superannuation system is doing more than funding retirements – it’s quietly fuelling the nation’s productivity, lifting GDP, and adding thousands to workers’ pay packets, according to new analysis from the Association of Superannuation Funds of Australia (ASFA).
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