Australia Post looks to super market
Australia Post is looking to play a role in helping superannuation funds connect with their members.
Australia Post chief executive Ahmed Fahour has told the Association of Superannuation Funds of Australia (ASFA) conference in Perth that his organisation’s new digital strategy, centred on a so-called digital mailbox, represented a wonderful way for funds to connect with their members.
Further he said a number of the digital mailbox launch partners - which included AMP Limited and Telstra - had saved up to 50 per cent in communications costs.
Fahour said the Australia Post digital strategy had been developed against the background of the significant collapse of the company’s traditional letters-based revenues which had declined by the order of 5 per cent in every year since 2008.
He said that Australia Post was also looking to use its post office network to assist superannuation funds and had earlier this year launched an over-the-counter superannuation service for Telstra Super.
Recommended for you
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
