Energy Super is offering to give self-managed super fund advice to members it sees at most risk of leaving to manage their own investments.
Ben Moles, manager of member and employer services at the fund, told delegates of the Post Retirement conference in Sydney, if the fund was involved in the process of members leaving for an SMSF it would retain a link with them, rather than lose touch completely.
The fund has also partnered its financial advice arm with SMSF firm Super IQ, as a preferred provider for its membership.
Another part of its strategy is to offer access to a member platform as a way of allowing members to control some assets outside of the fund, while still retaining membership.
For this exercise, the Queenland fund has been targeting males in their late 50s with large account balances – the group considered most likely of starting an SMSF. Some of these members are retiring early after redundancy and Moles said many were expecting a higher level of engagement from the fund in their financial affairs.
Moles said: “Some of these members feel retirement is the end of their relationship with the fund. So, some would have left Energy Super anyway.
“We would prefer to be part of a relationship with them, as some might come back to us.”