Simplifying superannuation and boosting member engagement will be a priority for Prime Super.
Following its merger with Health Industry Plan last year, Prime Super chief executive, Lachlan Baird, said the brand was focused on improving retirement outcomes for members by cutting jargon and complexity.
Baird said the fund's new "surprisingly straightforward" brand incorporated key elements of its past, while striving for a "bright and successful future".
"We know that superannuation can be complex and difficult to understand at times, and this is a big driver of member disengagement, which can lead to poor retirement outcomes," he said.
"We came to the decision that we wanted to challenge the status quo. Our aim now is to be a super fund that is defined by less jargon and complexity.
"We want to increase our members' engagement with their retirement savings so that they can set their sights on a successful life after work."
Australia’s largest super funds have deepened private markets exposure, scaled internal investment capability, and balanced liquidity as competition and consolidation intensify.
The ATO has revealed nearly $19 billion in lost and unclaimed super, urging over 7 million Australians to reclaim their savings.
The industry super fund has launched a new digital experience designed to make retirement preparation simpler and more personalised for its members.
A hold in the cash rate during the upcoming November monetary policy meeting appears to now be a certainty off the back of skyrocketing inflation during the September quarter.