Newly-formed Energy Super will be on Financial Synergy's Acurity administration platform, the financial services technology provider said yesterday.
Brisbane-based industry superannuation fund Energy Super has outsourced its administration services to Independent Fund Administrators & Advisers (IFAA), which uses the Acurity software.
Energy Super manages $3.8 billion for 45,000 members. It was launched in April following a merger between two smaller industry funds, ESI Super and SPEC Super. It has a platinum rating from SuperRatings.
Energy Super chief executive Robyn Petrou said the delivery of a cost-effective administration system was key to maximising the merger's benefits.
"While our members largely come from the energy and resources sector, they span a range of ages, locations and needs," Petrou said.
"Acurity ensures we can effectively partner with our members in their financial future by taking care of all administration duties and processes accurately, effectively and efficiently."
Financial Synergy chief executive Stephen Mackley said the addition of Energy Super brought the Acurity platform's funds under administration to $50 billion for more than 2.5 million superannuation members.
"Financial Synergy delivered the project on time and on budget within a reasonably short time frame," Mackley said.
"We have a commitment to ongoing evolutionary software development and there are numerous exciting advancements in our Acurity product that we are excited to be releasing over the next six months, together with IFAA and Energy Super."
