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(December-2001) Unilever amalgamates super funds
Unilever Australia will merge its two super funds into one fund, called Unilever Super, with total assets of about $240 million, from January 1, 2002.
The move will see the Unilever Australia Retirement Benefit Fund, with assets of $101 million and 2,200 members, join the new amalgamated fund.
Andrew Bell, Unilever Australiasia group superannuation manager, says: “The establishment of a single fund will streamline costs for the company and reduce complexity, enabling a more feasible structure for the introduction of improved features in the future.
“The trustees have identified that the single-fund approach can bring economies of scale and lower fund costs and as a result, more opportunities for improvement.“
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