Better for everyone

It's fantastic news. A lot of people have worked really hard for the last two or three years to get us to this position and that's touched people across the organisation. So I'm really pleased for us as a business, but predominantly for everyone that's worked so hard to get us to this point. 

The inception of the idea was a belief that members should benefit from the delivery of a superfund. The insurance model that had been established for a large number of years, effectively saw the people that are putting up the risk capital, earning a shareholder return for their investment, we felt that benefit should accrue to members. We're a profit for purpose organisation. What we do is for the benefit of members. 

The work that we've been doing is in building our infrastructure, so our ability to run the superfund, building all of the material to submit to TPR. They have a very strict set of criteria that they look at, so we've had to get all of that material ready, appoint advisers, set up the scheme, appoint trustees and get ourselves to the point where now we're over the next few months getting ready to transact. 

I think this and the other two or three that are into assessment, if they come out the other side of that will really create differentiation for trustees. 

The questions they should be asking themselves fundamentally is a transfer, whether it's to a superfund or an insurer, going to provide a better security of outcomes for the member. That's their fundamental responsibility. So if they're looking at our superfund, it's does the ability to enhance benefits, does our capability, does all of that give them comfort that the members they're responsible for are going to be looked after until those members get their benefits. So that's essentially no different to what they should be doing if they're considering insurance. 

So if you're a trustee or a sponsoring employer thinking about transferring to a superfund, then we'd love to hear from you. There's details on the website, but actually the circumstances will vary according to each individual scheme and we'd be happy to have those conversations and explain more about our proposition.