Merger Info

All systems go for the RBF merger

We’re delighted to let you know that the merger between the RBF Accumulation and Tasplan Super is now official.

Download our media release.

 

What this means for members
What this means for employers

What the merger means for members

When did this happen?

The RBF Tasmanian Accumulation Scheme successor fund transfer (SFT) to Tasplan Super has been signed off by the Governor and announced by the Treasurer. So, as of 18 July, it’s all systems go for the merger.

Is the merger good news?

The law says we can’t merge unless we can show that the merger is in the best interests of both funds’ members.

The fancy term for this part of the law is ‘equivalent rights’. Members must have equivalent, though not identical, rights to benefits after the merger. This means that, overall, your rights and benefits after the merger must be as good as or better than your current rights and benefits.

The merger will make Tasplan more competitive at a national level over the longer term. It will also promote economic growth via new jobs and local investment. An even more secure and sustainable Tasmanian super fund is an extremely positive outcome for you, staff and the broader community.

What will the merged fund look like?

Until we progress the merger further, we won’t know exactly what the merged fund will look like – while we’re expecting some improvements we’re not planning to make any huge changes. And, remember, the law says we can’t merge unless we can show that the merger is in the best interests of both funds’ members.

Once we merge, the fund will be larger and stronger, with around 165,000 members, managing around $7.1 billion and delivering significant economies of scale and value for money for its members; and be more competitive in the Australian super industry, long term.

When will the merger actually happen?

We’re aiming to transfer RBF members to Tasplan at the end of March 2017.

Will the merger affect the great service I’m used to?
Between now and March, Tasplan is working closely with RBF to maintain excellent service levels and provide consistent and coordinated communications to our members.

We employ talented and knowledgeable local staff in our contact centre and admin teams. They are all committed to providing a high standard of service.

Who will run the merged fund?

The CEO
Current Tasplan CEO, Wayne Davy will continue at the helm after the merger. Wayne’s engaging and empowering leadership will grow critical relationships, such as those with regulatory, government, business and union stakeholders. Most importantly, you will continue to benefit from having a fund CEO that is completely in touch with its membership.

The Board
We’re also happy to tell you that the new Tasplan Board is now in place. We welcome four members of the RBF Board to the Tasplan Board – Brian Scullin, Neroli Ellis, John Mazengarb and Rebekah Burton. They have resigned from the RBF Board and look forward to the first meeting of the new Board on 12 August. Former Tasplan Board members Tony Stacey and Nick Heath have retired from the Board. We’re very grateful for their substantial contributions to the organisation.

How do I get more info?

We’ll regularly keep you up-to-date as the merger plans progress. In the meantime, if you need more information:
• call us on 1800 005 166
• email us at info@tasplan.com.au

You can also download our fact sheet.

What the merger means for employers

When did this happen?

The RBF Tasmanian Accumulation Scheme successor fund transfer (SFT) to Tasplan Super has been signed off by the Governor and announced by the Treasurer. So, as of 18 July, it’s all systems go for the merger.

Is the merger good news?

The law says we can’t merge unless we can show that the merger is in the best interests of both funds’ members.

The fancy term for this part of the law is ‘equivalent rights’. Members must have equivalent, though not identical, rights to benefits after the merger. This means that, overall, members’ rights and benefits after the merger must be as good as or better than their current rights and benefits.

The merger will make Tasplan more competitive at a national level over the longer term. It will also promote economic growth via new jobs and local investment. An even more secure and sustainable Tasmanian super fund is an extremely positive outcome for members, staff and the broader community.

What will the merged fund look like?

Until we progress the merger further, we won’t know exactly what the merged fund will look like – while we’re expecting some improvements we’re not planning to make any huge changes. And, remember, the law says we can’t merge unless we can show that the merger is in the best interests of both funds’ members.

Once we merge, Tasplan will be the largest business by size of balance sheet in Tasmania, managing over $7.1 billion on behalf of around 165,000 members. Tasplan and RBF already invest significant amounts in local Tasmanian property, businesses and infrastructure assets, ranging from prime office blocks to agribusiness. It’s investments like these that we want to maintain by a keeping a Tasmanian based super fund.

When will the merger actually happen?

We’re aiming to transfer RBF members to Tasplan at the end of March 2017.

Will the merger affect the great service I’m used to?

Between now and March, Tasplan is working closely with RBF to maintain excellent service levels and provide consistently and coordinated communications to our members and employers.

As always, your Employer Services Manager is available to provide information and support. You can find our Employer Services team’s contact details on our website at www.tasplan.com.au/employers/help-for-employers/the-team

Who will run the merged fund?

The CEO
Current Tasplan CEO, Wayne Davy will continue at the helm after the merger. Wayne’s engaging and empowering leadership will grow critical relationships, such as those with regulatory, government, business and union stakeholders. Most importantly, you will continue to benefit from having a fund CEO that is completely in touch with its membership.

The Board
We’re also happy to tell you that the new Tasplan Board is now in place. We welcome four members of the RBF Board to the Tasplan Board – Brian Scullin, Neroli Ellis, John Mazengarb and Rebekah Burton. They have resigned from the RBF Board and look forward to the first meeting of the new Board on 12 August. Former Tasplan Board members Tony Stacey and Nick Heath have retired from the Board. We’re very grateful for their substantial contributions to the organisation.

How do I get more info?

We’ll regularly keep you up-to-date as the merger plans progress. In the meantime, if you need more information:
• contact your Employer Services Manager
• call us on 1800 005 166
• email us at info@tasplan.com.au

 You can also download our fact sheet.

Earlier info

Quadrant/Tasplan merger complete

Changes to the way we work

Three Tassie funds plan to merge

Tasplan and Quadrant to merge November 2015

Tasplan working with Quadrant and RBF on joint report to Treasurer