Hot on the heels of reappointing Frontier Advisors as its asset consultant, NGS Super has recommitted to Mercer as its administrator, following a review of the fund’s administration needs by KPMG.
The review found that Mercer was most aligned to support NGS Super’s strategic objectives, with its technology and service platforms useful for delivering administration and engagement solutions to members.
Mercer managing director and chief executive, Ben Walsh, said that the super fund’s recommitment was “a fantastic endorsement” of Mercer’s people, processes and technology.
“We’re thrilled to continue to help NGS Super on their journey of moving to a future model,” he said.
“Having had the privilege to work in partnership with NGS Super for more than 30 years, nine years of which as their administration partner, we are passionate in helping NGS Super to deliver excellent member retention, engagement and satisfaction.”
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
The fund has unveiled reforms to streamline death benefit payments, cut processing times, and reduce complexity.
A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how much money a fund makes today, but whether the people running it are trustworthy, disciplined, and able to deliver for members in the future.
AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.