Successor fund transfer complete
18 May 2017
We’ve successfully completed the transfer of RBF Tasmanian Accumulation Scheme members to Tasplan.
The transfer officially took place on the 1 April. At this time we moved all RBF Tasmanian Accumulation Scheme accounts to Tasplan. The transfer of RBF member data to Tasplan was complex and we allowed a number of weeks to ensure the transfer to Tasplan went smoothly.
The transfer of the RBF Tasmanian Accumulation Scheme to Tasplan means a bigger, stronger Tasmanian super fund that continues to invigorate the Tasmanian economy and put Tassie on the national super map.
'Tasplan is dedicated to seeing Tasmania thrive,' says CEO, Wayne Davy. 'This transfer makes us very competitive at a national level and promotes economic growth in Tasmania. A secure and sustainable Tasplan is an extremely positive outcome for our members, staff and the broader community.'
Most RBF Tasmanian Accumulation Scheme superannuation members will see a reduction in their administration fees when they become a member of Tasplan. Changes to the Tasplan Pension fee structure will also see a reduction in fees for many existing Tasplan Pension members.
Tasplan’s contact centre is Hobart based and members can drop into new offices in Hobart, Launceston and visit Devonport by appointment.
Employment and skills
Aside from member and employer service teams in New South Wales and Victoria, all Tasplan employees are Tasmanian based. Tasplan has been able to employ 31 former RBF employees and an additional 30 people have been employed from outside of Tasplan and RBF. Tasplan now has just over 150 employees.
CEO Wayne Davy says that Tasplan’s people are its competitive edge. 'We have been able to retain the expertise of some very talented people,' says Mr Davy. 'Our board and executives are all Tasmanians and have an intimate knowledge of our community.
Our teams are able to offer our members excellent financial services expertise from right here in Tasmania. Being able to access trusted, local support can make an enormous difference to members’ financial futures.'
A united achievement
The merger between Tasplan and the RBF Tasmanian Accumulation Scheme is achieved with the cooperation of RBF and the Department of Treasury and with the State Government’s facilitation.
'Tasplan and RBF have worked closely and cooperatively to ensure that the transition of RBF members is as frictionless as possible. We acknowledge the support of the Government and Parliament in enabling Tasplan to be the default superannuation fund for Tasmanian Government employees for the next three years,' said Mr Davy. 'I would particularly like to acknowledge RBF CEO Philip Mussared who led RBF to be a strong and successful public sector super fund over seven years. Without the efforts of Philip and the RBF team, we would not have been able to achieve the successor fund transfer.'
Following the transfer of RBF Tasmanian Accumulation Scheme members, Tasplan Super has:
- $7.6 billion in combined funds as at 31 December 2016
- 165,000 members
- 15,000 employers
- ten investment options plus our MySuper default Tasplan OnTrack®
- 151 employees.