Amid discussion of competition issues within the superannuation administration sector, fund trustees and executives have signalled that they place a premium on the quality of the administration platforms and the personnel who run them.
A survey conducted by Super Review during last month’s Conference of Major Superannuation Funds (CMSF) in Adelaide has revealed that product and services combined with the quality of the underlying technology are the most important factors for superannuation fund clients.
The least important factors in the minds of the survey respondents were market share and price.
The survey was sponsored by Pillar Administration and the results have been compiled only months ahead of the NSW Government’s expected sales process for the Wollongong-based administration business.
It also comes alongside a Super Review roundtable conducted during CMSF at which a number of fund chief executives supported the desirability of maintaining competition in the administration sector.
It is not yet clear whether the future make-up of the superannuation administration sector will become an issue for the Australian Competition and Consumer Commission (ACCC).
Asked to nominate the most important factors in selecting an administrator, respondents nominated product and service as the most important factor, followed by the quality of the technology platform alongside the quality of staff.
