Tasmanian-based industry fund Tasplan Super has announced the completion of its merger with Quadrant Super.
The Quadrant Super and Tasplan merger, which was officially announced in November last year, will see the fund's assets grow to $3.3 billion and better position it to merge with the RBF Tasmanian Accumulation Scheme.
Tasplan chief executive Wayne Davy said: “Looking to the future, we are extremely enthusiastic about our proposed merger with the RBF Tasmanian Accumulation Scheme. It will be a huge step for super in the state – and enormously beneficial for members, staff and the Tasmanian community.
“Tasplan is dedicated to seeing Tasmania thrive. This is not just lip service – we’re doing it already through investments, employment and a commitment to excellence."
Following the merger, Tasplan now has $3.3 billion in combined funds, 100,000 members, 15,000 employers, nine investment options and 88 employees, a statement issued by the fund said.
The merger has also seen a change in its business model. The fund has brought its administration operations to Hobart and has employed 38 new staff members, with more recruitment likely. The fund has also implemented new IT infrastructure which can administer up to 200,000 members.
“The in-house contact centre, enhanced administration systems and increased staffing levels means the organisation represents a true centre of excellence here in Tassie,” Mr Davy said.
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