Mercer has secured a significant new mandate, announcing this week that it has signed a seven-year administration services agreement with corporate fund Mercy Super.
Mercy Super has 12,000 members, assets of $700 million and covers Brisbane’s Mater Hospital and related businesses associated with Mercy Partners.
Mercer said the fund would be its largest Queensland client, with the fund transitioning to Mercer by 1 April.
The Super Members Council has outlined a bold reform plan to boost productivity, lift retirement savings, and unlock super’s full potential.
Women beginning their careers in 2025 could retire with hundreds of thousands of dollars more in super due to the 12 per cent super guarantee rate, HESTA modelling shows.
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.