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LGS appoints Link Super for administration
Local Government Super (LGS) has appointed Link Super as the fund’s administration provider.
LGS made the appointment after a tender process, and its board confirmed the appointment at a meeting in Sydney last week.
The four-and-a-half year administration agreement will start in 1 July 2014 subject to the usual reviews and due diligence.
The appointment comes after Link Super’s parent company The Link Group’s acquisition of FuturePlus Financial Services in December 2012.
LGS CEO Peter Lambert said the strong competition for the appointment showed the growing capability in the administration sector.
“Two particularly strong contenders emerged from the tender process - Mercer and Link Super,” he said.
“We believe that with Link Super we have arrived at the best solution, one that enables the continued focus on returns for members while delivering seamless and cost-effective administration services.”
Rice Warner provided consultancy services to LGS during the tender process.
Link Group managing director John McMurtie said Link Super and LGS have strong mutual understandings and shared values and welcomed its reappointment.
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