The second wave of consolidation in Australia's superannuation industry continued yesterday as the trans-Tasman forestry group Carter Holt Harvey outsourced its $125 million employee superannuation plan to ING.
Carter Holt Harvey, which previously ran a standalone company fund for more than 2000 members, said it had selected ING Corporate Super after a tender process.
The ING Employer Super business now has about $11 billion in funds under management.
"We are finding that customers are increasingly taking more of an interest in their super. As a result, employers and members are telling us they want customised service, they want simpler and easier access to information and tools to help them better understand their super," ING executive director of employer superannuation Ross Bowden said.
Bowden added that ING Employer Super would announce a range of additional member services and initiatives in coming months.
