REST Industry Super managed to nab the Business Superannuation Manager of the Year 2014 at the Roy Morgan Customer Satisfaction Awards in Melbourne.
The award was given after Roy Morgan said REST ranked number one in the category for the most months in 2014 based on a monthly survey of around 12,000 business decision makers across Australia.
REST CEO Damian Hill said the fund launched the REST Corporate product for employers to comply with their superannuation guarantee obligations.
"In addition, we have introduced access to new third party clearing house facility through our secure employer portal, which will allow businesses to pay their contributions to us with one file and one payment, no matter the number of default or choice funds," he said.
Meanwhile, MLC corporate super provider Plum received the Retail Super Fund of the Year award for the second year in a row.
MLC executive general manager of corporate and institutional wealth Paul Carter said the biggest challenge for the industry was the ageing population facing a trillion dollar retirement savings gap.
He also said Plum's Pre Mixed Moderate fund had above median returns across one, three, five and seven year periods.
Aware Super has made a $1.6 billion investment in a 99-hectare industrial precinct in Melbourne’s North which, the fund clarified, also houses the nation’s first privately funded open-access intermodal freight terminal.
ASFA has affirmed its commitment to safeguarding Australia’s retirement savings as cyber activity becomes an increasing challenge for the financial services sector.
The shadow treasurer is not happy with the performance of some within the super sector, telling an event in Sydney on Thursday that some funds are obsessed with funds under management, above all else.
As the Australian financial landscape faces increasing scrutiny from regulators, superannuation fund leaders are doubling down on their support for private markets, arguing these investments are not just necessary but critical for long-term financial stability.