Bravura has signed VicSuper to use its administration software and online superannuation portal for members and employers, expanding the current relationship the two groups currently hold with each other.
VicSuper will use Bravura's Sonata as its primary registry system for internal operations and to offer member services while ePASS will be used as VicSuper's employer contributions portal with online and mobile member access.
The two groups have a 15 year working relationship with VicSuper using Bravura's heritage superannuation systems with the implementation of Sonata and ePASS into the VicSuper business set to take 18 months.
The first phase will develop mobile capabilities for VicSuper, the second phase will focus on SuperStream compliance for employers with the third introducing full administration capability.
VicSuper chief executive Michael Dundon said Sonata and ePASS would allow the superannuation fund to retire a number of legacy applications while developing more products and features for fund members and engaging with them further through online and mobile channels.
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.