Catholic Super has moved to cut red tap with the introduction of an online membership facility.
Catholic Super chief executive Frank Pegan said that the fund had introduced a six-step ‘Join on Line’ facility designed to make it easier for a new member to consolidate their superannuation at the time of joining the fund.
He said the new facility was accessible on the fund’s web-page www.csf.com.au and had been introduced following a survey of members.
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.