Plum Financial Services has secured a corporate superannuation outsourcing win picking up the $115 million British American Tobacco Australia Superannuation Fund (BATA).
The outsourcing arrangement has been confirmed by a spokeswoman for Plum who said that the transition to the Plum platform had taken effect from July 1 and had followed a tender process.
She said the trustees of the 1,100 member fund had selected Plum Financial Services on the basis of its offering to members, including a comprehensive education program, a diverse investment selection and supporting tools to maximise member benefits.
The Plum arrangement with BATA is consistent with a spate of corporate superannuation outsourcing announcements made in the run-up to the new choice of fund and trustee licensing regimes.
