WA Super has switched SuperStream providers from ClickSuper to SuperChoice, which will take over clearing house and gateway services effective this month.
This was the third large super fund to make the move to SuperChoice in the past two months, the company said.
“Following a rigorous tender price, we chose the organisation that best integrated with our core member platform,” Paul Owen, WA Super general manager client services, said.
“We’re looking forward to a long-term partnership with SuperChoice that helps us to deliver on our purpose of helping members achieve their retirement dream.”
SuperChoice invested $25 million in its platform capability over the last five years, embedding new requirements from the Australian Taxation Office (ATO), which paid off with the new clients that have come on board.
SuperChoice CEO Stuart Korchinski believed the investment meant the platform could now quickly be leveraged by clients as they sourced new functionality and data that had historically not been available to them or their customers.
“Our clients rely on us to do the groundwork for them, developing solutions that keep them compliant, suit their business and are ready to go when they need to,” he said.
“The SuperChoice Single Touch Payroll (STP) solution is a great example – it’s ready to go live, well ahead of the ATO start date (1 July, 2018) and has stood up to robust testing as part of the ATO’s STP working group.”
BlackRock boss Larry Fink praised Australia’s superannuation system in his annual chairman’s letter.
The prudential regulator has announced it will publish new expenditure data of superannuation funds, providing details on expenses like advice, director remuneration, and payments to unions.
Affirming the UK’s growing attractiveness as an investment destination, a number of Australia’s largest investors recently joined the UK Foreign Secretary for an exclusive briefing in Canberra to discuss further opportunities for trade and growth.
The specialist superannuation law advisory practice is set to wind up, with managing partner Jonathan Steffanoni planning to bring a new offering to market.
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