Mercer has announced a seven year agreement with corporate fund Mercy Super to provide administration services for its business.
Mercy Super is a profit for members superannuation fund with over 12,000 members and accounting for assets of approximately AU$700 million.
Offered exclusively to employees of the fund’s principal employer – the Mater Hospital in Brisbane – and other employers associated with Mercy Partners, Mercy Super will be Mercer’s largest client in Queensland.
“We are looking forward to working closely with Mercy Super to support them in building their capabilities to communicate and engage with their members in a tailored and meaningful way and to further improve the experience and outcomes for members,” said Ben Walsh, Financial Services Business Leader at Mercer.
In Australia, Mercer has been conducting superannuation administration for 40 years, with clients including defined contribution, defined benefit and hybrid plans, allocated pensions, transition to retirement allocated pensions, and lifetime pensions.
“Our top priority in superannuation administration is delivering the highest standard of customer service to members. We provide best-practice administration by ensuring transparency of delivery against service standards and reporting on a broad range of issues,” added Mr Walsh.
Planning has commenced for the Mercy Super transition and will be finalised by 1 April 2014.
Mercer is a global leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset – their people. Mercer’s 20,000 employees are based in 43 countries and the firm operates in over 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. With 55,000 employees worldwide and annual revenue exceeding $12 billion, Marsh & McLennan Companies is also the parent company of Marsh, a global leader in insurance broking and risk management; Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a global leader in management consulting. Follow Mercer on Twitter @MercerAU @MercerInsights