We’ve been awarded the Australian Institute of Superannuation Trustees’ (AIST) national award for Best Internal Project (FUM under $10b).
This award recognises the success of the project undertaken to transfer the RBF Tasmanian Accumulation Scheme to Tasplan.
The creation of a single Tasmanian super fund took place in two parts: the transfer of Quadrant to Tasplan in 2015, followed by the transfer of the RBF Tasmanian Accumulation Scheme to Tasplan.
The transfer of the RBF Tasmanian Accumulation Scheme to Tasplan commenced in March 2016 and was completed in May this year.
‘The impact of the transfer has been a real game changer, creating an enormous boost from a small to a medium sized fund with a bright future in the Australian super industry,’ says Tasplan’s Executive Manager Strategy, Keryn Welch. ‘The scale of the change for Tasplan is demonstrated in the growth of funds under management from $3.6 billion to $8 billion1 making it the biggest business by balance sheet in Tasmania.’
The fund now has 145,000 members, 16,000 employers and over 150 employees.
‘This award is recognition of the significant effort taken to complete not one, but two successor fund transfers, in eighteen months, creating a single Tasmanian super fund serving members throughout Australia with in-house call centre, administration and technology teams’, says Keryn.
‘We’re extremely proud to receive this award that recognises our ability to complete mergers successfully and transformationally. This project has created a new organisation with a learning and growth culture that is always looking for the next opportunity. Tasplan has achieved merger success that has been uncommon nationally in recent times.’
The AIST Awards for Excellence celebrates the work of those within the profit-to-member super sector striving to deliver projects, campaigns and solutions that are in the best interests of their members.
1 as at 18 December 2017.
This article is general information only. Readers should consider getting financial advice before making financial decisions.
The trustee of Tasplan Super (ABN 14 602 032 302) is Tasplan Pty Ltd (ABN 13 009 563 062). AFSL 235391.