Mercer has won the key implemented consulting mandate with TAL Superannuation (TASL).
TAL announced the mandate this week, stating it had appointed Mercer for six years following the results of a tender process completed earlier this year.
Confirming the appointment, TAL Group chief executive and managing director, Brett Clark said TAL Superannuation’s independent appointment of Mercer would support the fund to continue delivering sustainable returns to its members.
“The tender process confirmed Mercer’s deep expertise in the superannuation sector as well as the high calibre of their people and processes,” he said.
Clark said that while a number of quality candidates were considered in the tender process, Mercer had been judged to best meet TASL’s requirements.
Mercer will begin its role form 1 October.
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.