ING sweetens employer choice toothache
By Craig Phillips
ING Australia is attempting to ease the burden on employers and hold on to existing clients in a post choice environment by offering its superannuation contribution clearing service for both ING and ANZ employer super clients free of charge.
Late last year ING said it would provide a clearing service by July 1 this year through ING and ANZ’s existing online superannuation servicing systems — ING’s EasyTransact and ANZ’s SuperChoice. The group has now announced the service would be free of charge.
ING head of employer super product, Tom Griffiths, said employers were fearful of the administrative burden they may face, particularly by having to make contributions to multiple super funds as of July 1.
The clearing service will enable employers to make contributions to ING and ANZ employer super products such as Integra, Corporate Super or ANZ Super Advantage, in addition to other third-party super providers through the one service.
Employers get the service free of charge if they have an ING or ANZ employer super fund nominated as their default super fund, and where at least 50 per cent of employees have their contributions paid into that fund.
AUTHOR
Craig Phillips
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