AUSTRALIA - The A$6.5bn Australian Retirement Fund (ARF) will not renew its contract with current pension administrator AAS when it expires in March next year.
The fund has appointed specialist superannuation administration company Superpartners to take over at the expiry of the contract.
ARF – Australia’s largest multi-industry fund offering both employer-sponsored and personal superannuation plans – outsources the administration of the fund.
It said the decision by the trustee board followed a lengthy and comprehensive tender process.
“It was a close decision because both organisations provide a high quality of service to their respective clients,” ARF said.
“However the board agreed that it was in the best interest of the fund’s members and employers to appoint Superpartners for a five year period commencing April 2005.”
The fund added that it was working closely with AAS and Superpartners to ensure a smooth take-over.
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