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Statement: Equip relationship with Mercer

Superannuation  |  29/03/2018  |   2 min read

The 4 Corners episode, Super Risk, aired on ABC TV on the evening of 26 March 2018, included some commentary on past events and issues relating to Mercer.

We have received questions from members seeking assurance that none of these issues are related to the products and services provided by Equip. We are able to assure members that none of the events or issues discussed related to Equip.

As a not for profit fund, Equip engages the services of third party suppliers and Mercer is one of these. They provide member and employer administration services, which include call centre support.

The superannuation and pension investment products offered to members and defined benefit employers are Equip products. Our policy is to levy the same fees for all members who are in the same product. If we reduce fees on a product, as we did on 30 September 2017, they apply to all members and we notify all members of the revised arrangements without exception.

We can assure you that we regularly monitor and review our administration and service level agreements and have built in safeguard clauses to ensure that if circumstances change, we can renegotiate the fees and services provided by our suppliers for the benefit of all of our members.

The fees charged to us by Mercer are the result of vigorous negotiation, including independent comparison of competitor fees and services.

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