MUFG scores administration mandate

MUFG Retirement Solutions, a division of MUFG Pension & Market Services has been appointed by ElectricSuper as the fund's new administration partner.

MUFG said the appointment marks the commencement of a strategic partnership supporting members across South Australia's electricity supply industry.

Under the agreement, MUFG Retirement Solutions will provide core administration services supported by its integrated technology platform, bank-grade governance framework and Clientfirst operating model. The partnership also covers contact centre support, online member services and security and fraud management.

The transition, scheduled to complete in late 2026, will migrate accumulation, pension, and defined benefit members using MUFG Retirement Solutions' methodology.

MUFG said the approach prioritises service continuity, data integrity and operational resilience, which is said would ensure ElectricSuper members benefit from a secure, scalable service model underpinned by modern digital capability and strong risk and compliance disciplines.

ElectricSuper, a South Australian exempt public sector superannuation fund, serves approximately 3300 members, including around 700 pensioners and 300 defined benefit members, with funds under management of about $1.8 billion.

"We are proud to partner with ElectricSuper. This collaboration demonstrates our ability to deliver complex fund transitions efficiently while maintaining the highest standards of governance and member service," MUFG Retirement Solutions ANZ chief executive Frank Lombardo said.

"It also reinforces our commitment to growth and innovation in the Australian superannuation market, helping funds like ElectricSuper navigate evolving regulatory requirements and member expectations while building a platform for long-term success."

ElectricSuper chief executive Melanie Muston said the appointment of MUFG Retirement Solutions supports the fund's dedication to the member experience.

"We are confident that working with MUFG Retirement Solutions will provide a smooth transition for our members and strengthen our operational capability," Muston said.

"Their proven experience with both accumulation and defined benefit schemes and commitment to strong governance will bring benefits to our members and the fund. We are looking forward to working closely with MUFG Retirement Solutions and are confident that this partnership will enhance the overall member experience."