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RBF's Mercer admin deal underway
Tasmanian public sector fund The Retirement Benefits Fund (RBF) has finalised a deal with Mercer to provide outsourced administration and member services to the fund.
The arrangement will switch over to Mercer on 2 May after formalising the deal on 20 March, according to Mercer.
RBF chief executive Philip Mussared said the partnership safeguards RBF and its members from future risks associated with our ageing computer systems as well as providing an opportunity to enhance member services.
“For RBF, like many superannuation funds with outsourced administration services, the benefit of scale arising from our partnership with Mercer enables us to provide members with a more tailored and personalised service,” he said.
Mercer’s outsourcing business leader for Asia Pacific, Sandy McCarthy, said the partnership is significant as RBF is the first major public sector superannuation fund in Australia to move to an outsourcing model with the private sector for their superannuation administration.
“Our partnership is extremely important for both parties. It’s our experience and ability to understand and manage the complexities of public sector funds that will allow RBF to focus more on member and investment services and ultimately enhance members’ experience with their superannuation fund,” she said.
RBF members and other stakeholders have been advised of the arrangements that will be in place as this significant transition is undertaken during May and June, Mercer stated.
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