Tasplan Super gets a big thumbs up
21 August 2015
Independent assessor, SuperRatings has given Tasplan Super a bunch of big ticks in areas from growing its funds under management to reducing fees. And the feeling is that the upcoming merger with Quadrant is likely mean some important improvements. So, it looks like you’re about to get the best of both funds!
SuperRatings is an independent researcher that rates super funds around the country, so that you can make sure you are with a fund that’s going to help you achieve a comfortable retirement.
And Tasplan clearly has the goods!
As good as gold
This year, SuperRatings awarded Tasplan Super its eighth consecutive gold rating. This rating recognises Tasplan as a ‘good value for money’ super fund.
So, why has our fund scored the big gold star?
- Tasplan delivered generally strong growth results in 2014. The funds it manages grew 15.2%, well above the industry and medium funds’ medians of 14.4% and 13.8% respectively.
- Tasplan employer contributions grew by 6.6% against an industry median of 6%. Member contributions grew 54.5%. Overall contributions grew by 11.5%.
- Investment returns have remained competitive over the longer term.
- Over the past year, Tasplan’s member and admin fees remained stable. Notably, the investment management fee of the MySuper Balanced option fell by five basis points to 0.64%. Further, the fee on a $50,000 account balance with all funds in the MySuper Balanced option has fallen from $523 to $498 over the past year. Nice!
- Tasplan’s governance structures are healthy and there’s growing rigor in the fund’s Director training program.
Clearly, you can have confidence that you’re with a quality fund.
Improvements on the way
Obviously, the merger with Quadrant will mean some changes to Tasplan – and our bet is that they will be good ones.
SuperRatings reckons that, overall, Tasplan’s service is reasonable but the assessors say they are looking forward to improvements that may come from the merger – and you’ll reap the benefits.
Similarly, SuperRatings assessed Tasplan’s current administration arrangements as ‘robust’. However, when we merge, Tasplan will change over to Quadrant’s admin system. SuperRatings undertook a review of Quadrant on our behalf during 2014 and said that the admin environment is robust and their software system is highly flexible. This whizz-bang system will mean we’ll be able to look after your account in-house – and take a faster, more personal approach to managing your money.
So, all in all, when it comes time to merger, you’ll be in the best possible position. When we take on the best bits of Quadrant, it can only enhance our consistently gold-rated fund.
If you have any questions about the merger, call us on 1800 005 166 or email us at email@example.com.