Superannuation
Super fund rebrands

Following numerous cases of mistaken identity, a $2 billion industry superannuation fund has rebranded.

EISS Super, or the Electricity Industry Superannuation Scheme, has changed its name to ElectricSuper.

"We're still the same fund, offering great service to our members, low fees, and competitive investment returns - it's just our name that's new!" the site reads.

While a rebranding often tends to come as part of a wider strategic plan, this is not the case for the super fund, with the decision to change its name actually more out of necessity.

Speaking to Financial Standard, ElectricSuper chief executive Nic Szuster said the fund has struggled for years, being frequently confused with the other EISS Super - the Energy Industry Superannuation Scheme.

"We would receive calls each week from members of the other fund and it would take some time for us to realise that there had been a mix up," Szuster said.

It wasn't a major issue, with the fund only receiving two or three of these calls each week. However, the problem was exacerbated last year when Mercer, ElectricSuper's administrator, won the mandate to provide admin services to the other fund too in late 2018.

"That made things much more difficult," Szuster said.

The fund took it as an opportunity to freshen up its image, launching a new website in late 2019 with "a bit more contemporary branding".

ElectricSuper was formed when the Electricity Trust of South Australia (ETSA) was privatised in 1999. It is home to about 3000 members.

Read more: ElectricSuperEISS SuperElectricity Industry Superannuation SchemeElectricity Trust of South AustraliaEnergy Industry Superannuation SchemeFinancial StandardMercerNic Szuster
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