NGS Super appoints new administrator: Focused on more tailored and digital member experiences17 Jan 2024 2 min read
NGS Super, the industry super fund dedicated to the education sector, has appointed GROW Inc (GROW) as their new outsourced administrator following a review of the existing model and an extensive RFP process.
A review of the fund’s administration operating model began in February 2023 to find efficiencies and ensure a high-quality tailored member experience that is balanced against business costs. The $14 billion fund said the new partnership is expected to deliver efficiencies and reduced costs, drive innovation and present an opportunity to revive our digital offer to make it more personalised.
A significant proportion of NGS’ administration model has been outsourced to Mercer since 2009. There have been a number of changes in the administration market and the fund landscape, in addition to technological advances in recent years. According to NGS Super CEO, Natalie Previtera, it was timely for the fund to undertake a review and plan for a future model that was more tailored and sustainable.
“We want growth, but we’re looking for the right kind of growth – steady and stable – so we can continue to do what we are doing right now as the sole remaining niche fund for education professionals. We’re confident working with GROW as our outsourced administrator will give us the flexibility and agility to respond to the needs of employers and members,” Previtera said.
“Customer expectations are changing at an increasing pace and the super industry isn’t immune to this. Increased and enhanced digital customer experience models and capabilities are required to remain relevant, competitive and accessible to members.
“Being a small fund, our ability to be agile and understand the needs of education professionals is what’s important. And that goes to so many elements like our culture, the way we structure work, and the partnerships we choose with like-minded suppliers.”
“We’re using this opportunity of working with GROW to develop a responsive mobile app, new member online portal and improving the digital experience for members joining online. All of which will give members easy access to and help them manage their retirement savings online.
“We’d like to acknowledge our partnership with Mercer and thank them for their professionalism and hard work,” Natalie concluded.