Key Takeaways
- • AvSuper, an Australian member-based superannuation fund serving the aviation and aviation services sector, has appointed Mercer's Administration Services arm as its retirement scheme administrator following a competitive tender.
- • Mercer won the mandate over several global and local rivals; the administrator will handle account contributions, benefit payments and member statements.
- • The appointment marks Mercer's first major client in the Wollongong region and its first new Wollongong client in several years, according to Craig Rice, Head of Mercer Administration Services.
- • AvSuper expects increased technology options to streamline member processes, per its press release; the two firms are working on a transition of administration responsibilities.
Summary
AvSuper, a member-based superannuation fund for the aviation and aviation services sector across Australia, has selected the Administration Services arm of global HR consultancy Mercer as its retirement scheme administrator. The appointment follows a competitive tender process in which Mercer defeated several global and local rivals, according to the source article. The agreement establishes a strategic partnership between the two firms, and the companies are currently planning a smooth transition of administration responsibilities.
Mercer will take over core pension administration functions, including processing account contributions, executing benefit payments and issuing member statements. AvSuper said Mercer "has the flexibility, capability and capacity to deliver a bespoke solution based on our unique needs, now and in the future." AvSuper also stated it was excited by the increased technology options it expects to streamline processes for members, and that the change is predicted to significantly benefit members.
Mercer CEO Ben Walsh said the firm's international standing and expertise make it a good fit for AvSuper, citing "local expertise and scale to drive strong results for clients and members." Craig Rice, Head of Mercer Administration Services, described the win as the first new client Mercer's Wollongong operation has secured in a number of years, and said the firm is actively bidding for other new business.
The mandate is a notable entry point for Mercer in the Wollongong market. The source article also notes that Mercer significantly expanded its superannuation and pension capabilities in Australia in 2016 through its acquisition of Pillar Administration.
Mercer will take over core pension administration functions, including processing account contributions, executing benefit payments and issuing member statements. AvSuper said Mercer "has the flexibility, capability and capacity to deliver a bespoke solution based on our unique needs, now and in the future." AvSuper also stated it was excited by the increased technology options it expects to streamline processes for members, and that the change is predicted to significantly benefit members.
Mercer CEO Ben Walsh said the firm's international standing and expertise make it a good fit for AvSuper, citing "local expertise and scale to drive strong results for clients and members." Craig Rice, Head of Mercer Administration Services, described the win as the first new client Mercer's Wollongong operation has secured in a number of years, and said the firm is actively bidding for other new business.
The mandate is a notable entry point for Mercer in the Wollongong market. The source article also notes that Mercer significantly expanded its superannuation and pension capabilities in Australia in 2016 through its acquisition of Pillar Administration.
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