Simplifying superannuation and boosting member engagement will be a priority for Prime Super.
Following its merger with Health Industry Plan last year, Prime Super chief executive, Lachlan Baird, said the brand was focused on improving retirement outcomes for members by cutting jargon and complexity.
Baird said the fund's new "surprisingly straightforward" brand incorporated key elements of its past, while striving for a "bright and successful future".
"We know that superannuation can be complex and difficult to understand at times, and this is a big driver of member disengagement, which can lead to poor retirement outcomes," he said.
"We came to the decision that we wanted to challenge the status quo. Our aim now is to be a super fund that is defined by less jargon and complexity.
"We want to increase our members' engagement with their retirement savings so that they can set their sights on a successful life after work."
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.