Two key superannuation funds — NGS Super and Club Plus — are expected to call for tenders for the provision of administration services this year.
The tenders are expected to test the administration market, which has seen significant change over the past eight months with CitiStreet changing hands and with the NSW Government-owned Pillar Administration currently being considered for sale.
Club Plus currently retains the services of Australian Administration Services while NGS Super retains the services of CSA Retirement Services.
First Nations Australians have faced systemic barriers accessing super, with rigid ID checks, poor service, and delays compounding inequality.
“Slow and steady” appears to be the Reserve Bank’s approach to monetary policy as the board continues to hold on to its wait-and-see method.
AFCA’s latest data has shown a decline in complaints relating to superannuation, but there is further work to be done, it has warned super funds.
Limited exposure to fossil fuel companies has positively impacted the performance of Australian Ethical’s balanced and growth funds, the super fund says.