A Super Time
The downside of being a large corporation is often the inability of talking to customers in a personal and intimate manner.
Later this year the $20 billion mega-super fund, AustralianSuper, will attempt to get around this issue by holding two open forums for its 1.2 million members.
The forums – one in Sydney and Melbourne – are being held in pop concert arenas, and while they are unlikely to attract as many people as a U2 or Pink Floyd concert it’s a reasonable attempt by a large organisation to personalise its services and allow members access to the executive team.
The two events will also be webcast on the group’s website – although it’s unclear whether viewers online will be able to ask questions of the executive panel as it’s been suggested those attending the event will be able to.
Achieving scale in superannuation is crucial for lowering the significant costs of administering a fund and reducing the costs to members of being in a fund.
However the flip side of that is the challenge created from growing in terms of remaining a fund members can relate to.
As you all know AustralianSuper was borne out of the the 2006 merger of Australian Retirement Fund (ARF) and Superannuation Trust of Australia (STA), with the merged entity representing over 65,000 employers and over $20 billion in assets.
Despite the sheer size of AustralianSuper, communication is more often than not a good thing as it can raise levels of understanding and in extreme cases help to avoid conflict by doing so.
In this instance, the forums – at Sydney Showgrounds and the Melbourne Convention Centre – is an opportunity for members to learn more about the fund, it’s goals and its objectives.
The only issue for some members might be the kick-off time of the events – set for 5.30pm.
Another tough ask might be the fact both events go for three hours.
The burningpants team have not met anyone who can make superannuation sound interesting for three hours non-stop – even everyone’s favourite super icon, Bernie Fraser, who as an independent director of the fund will sit on the panel at the events.
One Comment on “A Super Time”
Post a comment
Dave Stone says:
As a Professional Adviser who has spent many an hour buidling my knowledge and experience in order to improve the lives of my clients through providing well researched, timely and quality advice I take great exception to the notion that a mass forum will add any value to a Superannuation Fund member. Seems to me like just another attempt to convince the unwitting public that all you need to do in life to become financially successful is blindly hand your hard earned money over to someone who wouldn’t know you from a bar of soap. Never mind what your personal circumstances are demanding. Still, as my Grandmother always said “you get what you pay for”. It’s not April 1st is it?