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REST Super joins IFF e-commerce hub
REST Super has joined Sunsuper and StateWide Super in signing up to use the IFF Rollovers Hub, which allows funds to complete rollover payments electronically, according to Cuscal, the company responsible for ClickSuper, which facilitates the hub.
Health Super and ComSuper will also join the IFF pilot, which aims to streamline back-office processes in the manner outlined by Jeremy Cooper's SuperStream recommendations and is open to all super funds regulated by the Australian Prudential Regulation Authority (APRA), Cuscal stated.
REST chief executive Damian Hill said the purpose of being involved in the hub was to provide a better member experience and to maximise benefits to members by reducing back-office costs and reinvesting members' money more quickly.
"We welcome the intent behind the SuperStream initiative to improve back-office processes in superannuation, and see the opportunity to implement e-commerce initiatives now. The financial savings will ultimately be passed onto our members," Hill said.
AUTHOR
Mike Taylor
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