AustralianSuper and Link Group to extend partnership

AustralianSuper and Link Group have entered a memorandum of understanding (MOU) to increase its partnership.

Announced in an ASX statement on 15 December, the two firms confirmed a negotiation will take place to extend their partnership until at least 2028.

Under the MOU, Link Group’s Retirement and Superannuation Solutions (RSS) business and the super fund will engage in ‘detailed discussions’ regarding the commercial and contractual terms on which Link will continue providing administration and data services to the fund.

“Link Group will also provide support to AustralianSuper as it transitions areas that it considers highly specialised to the fund, such as death claims and member complaints, internally,” the announcement stated.

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Dee McGrath, Link Group chief executive of retirement and superannuation solutions, said the firm was privileged to be given the opportunity to expand the partnership.

“This MOU reflects the strength of our relationship with AustralianSuper as an important partner and we are excited by the investment we make in the evolution of our global service offering, that delivers optimal outcomes to AustralianSuper’s members. We look forward to continuing to play a key role as we support AustralianSuper in delivering its 2030 strategy,” she explained.

Also on 15 December, AustralianSuper announced changes to its member service model. This includes insourcing its death claims management through a new Bereavement Centre, while also implementing additional complaints handling capability by the end of the financial year. 

According to Peter Curtis, AustralianSuper chief operating officer, the move to internalise complex processes such as death claims is a part of the fund’s ongoing commitment to enhancing its member services.

“Our focus is on providing members and their loved ones with a personalised, timely, and seamless experience when they interact with their fund and their retirement savings,” he described.

“This year we’ve made improvements to the way we manage death claims and complaints, including increasing the size of the team responsible for managing these claims and simplifying the way these services are delivered.”

The establishment of a dedicated Bereavement Centre will leverage the specialist expertise of the fund’s internal team and ensure members’ savings are paid to their loved ones efficiently, Curtis added.

“Managing death claims efficiently and with empathy and care is the final service we can provide members and we take this responsibility seriously,” he said.

This change followed AustralianSuper’s decision to transition to a new claims assessment model with its insurer TAL last year, the COO explained, reflecting the need for specialist skills with these specific processes.

Additionally, the fund will continue to review and strengthen its broader administration and member service model through its partnership with Link.