Okay, here’s a detailed article summarizing the Business Wire French news release about REI Super outsourcing its superannuation (retirement fund) administration to SS&C, written in easy-to-understand English:
REI Super Chooses SS&C for Retirement Fund Administration
Sydney, Australia – May 1, 2025 – REI Super, a superannuation (retirement savings) fund in Australia, has announced it will be outsourcing the administration of its members’ retirement contributions to SS&C, a leading provider of financial technology and services. This partnership aims to improve efficiency and enhance the overall experience for REI Super’s members.
What does this mean?
In simpler terms, REI Super is hiring SS&C to take care of the behind-the-scenes work that makes sure your retirement savings are properly managed. This includes tasks like:
- Processing Contributions: Handling the money that comes from your employer and/or from you directly into your super account.
- Managing Member Data: Keeping track of your personal information, account balances, and investment choices.
- Reporting and Compliance: Ensuring everything is done according to Australian regulations and providing you with statements and other important information.
- Customer Service: Potentially handling inquiries from REI Super members related to their accounts (although this is not explicitly stated, it’s a common benefit of such partnerships).
Why is REI Super doing this?
Superannuation administration can be complex and requires specialized technology and expertise. By outsourcing to SS&C, REI Super likely aims to:
- Reduce Costs: SS&C can often provide administration services more efficiently than REI Super could handle internally.
- Improve Efficiency: SS&C has dedicated systems and processes designed to handle large volumes of data and transactions accurately.
- Enhance Member Experience: Potentially offer better online tools, faster processing times, and improved customer service to its members.
- Focus on Core Business: Allow REI Super to concentrate on its core business, such as investment strategy and member engagement.
- Access Latest Technology: Benefit from SS&C’s cutting-edge technology and ongoing investment in its administration platform.
Who is SS&C?
SS&C Technologies Holdings, Inc. is a large, well-established company that provides software and services to the financial services industry. They specialize in handling complex back-office operations, including administration for superannuation funds, investment managers, and other financial institutions. By choosing SS&C, REI Super is partnering with a company that has a proven track record and a deep understanding of the superannuation landscape.
What are the potential benefits for REI Super members?
While the announcement doesn’t directly detail the benefits to members, outsourcing administration often leads to:
- More Efficient Processing: Contributions are processed faster and more accurately.
- Improved Access to Information: Better online portals and mobile apps for checking balances and managing accounts.
- Enhanced Security: SS&C has robust security measures in place to protect member data.
- Potentially Lower Fees: Although not guaranteed, cost savings from outsourcing could eventually translate to lower administration fees for members.
In Conclusion:
REI Super’s decision to partner with SS&C for superannuation administration reflects a growing trend in the industry. Super funds are increasingly looking to specialized providers to help them manage complex operations, improve efficiency, and ultimately deliver better outcomes for their members. This partnership should allow REI Super to streamline its operations and focus on delivering value to its members through strong investment performance and enhanced member services.
REI Super confie l’administration de ses cotisations retraite à SS&C
The AI has delivered the news.
The following question was used to generate the response from Google Gemini:
At 2025-05-01 13:16, ‘REI Super confie l’administration de ses cotisations retraite à SS&C’ was published according to Business Wire French Language News. Please write a detailed article with related information in an easy-to-understand manner. Please answer in English.
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