Superannuation administrator, Link group has retained a key mandate with legalsuper announcing that it would be extending what has already been a 15-year association with the administration company.
Confirming the move, legalsuper chief executive, Andrew Proebstl said the reappointment had followed a rigorous competitive review which had had covered organisational strength, technology infrastructure, pricing and compliance.
He said the review process had been assisted by consultancy KPMG.
Proebstl said legalsuper had sought expressions of interest from six fund administrators but that it had opted for Link on the basis of new arrangements including daily unit pricing and increased transparency and immediacy around member account updates and transition to a new direct investment platform offered by UBS.
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.