Statewide is upgrading its online service to enable members to make applications and contributions online, a move aimed at increasing the administrative efficiency of the fund.
The next phase of what is a progressive upgrade of the online service will be released before member statements are posted in September and will include functionality that allows applications, contributions, switching and personal detail updates to be made online. Marketing manager at the fund, Michael Hall, said the aim of the online service is to provide an ease of communication for members but also to improve the efficiency with which member requests are administered. The online applications are primarily used by employers and the first tranche of upgrades will be aimed at them. Statewide has an internal project team with members from all parts of the business, including the call centre and administration, that works with an external technology provider.
24/07/2007
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Investments
AustralianSuper's chief liquidity officer Chandu Bhindi has publicly proposed the idea of allowing some super funds to directly use leverage, enabling them to better manage liquidity requirements in crisis situations rather than being forced to sell assets at stressed prices. While the idea has some merits, overall it is not necessary and could increase system risk.
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