Link Group and Rest set to continue their 30-year partnership, with new contract proposed

22 February 2023: Link Group's Retirement and Superannuation Solutions business and long-standing client Rest have agreed in principle to extend their 30-year partnership, making it one of the most enduring relationships within the superannuation industry.

Link Group and Rest will now negotiate the final terms and conditions, targeting a new contract period commencing in May 2023.

Under this proposed new contract, Link Group will continue to deliver core administration and expand on their customer engagement services to the fund.

In the proposed contract, the two organisations also intend to create a joint digital innovation team, amongst a range of other initiatives, adopting a collaborative approach to elevate the digital services and technology solutions available to Rest members and employers, while Link Group will continue to deliver scaled process efficiencies.

Link Group's strong partnership with Rest began in 1992 and, over this time, the fund has experienced considerable growth. It has become one of the largest profit-to-member superannuation funds by membership, with more than 1.9 million members and approximately $70 billion in funds under management as at 31 December 2022.

Dee McGrath, CEO Retirement & Superannuation Solutions, Link Group said: 

The proposed new contract is testament to Link Group’s capability and proven expertise to deliver exceptional outcomes to Rest’s members and employers over an extended period of more than 30 years. We are incredibly excited to work with Rest and to be a part of a digital evolution in superannuation.

“New digital technologies, customer experience and data management have forever changed expectations within our industry. Superannuation funds are transforming the way they interact and connect with their members and employers, creating innovative solutions to capture market opportunities and meet changing needs. Link Group plays a critical role in facilitating this transformation for super funds, supporting the use of data, enabling funds to improve the overall experience for members and employers, resulting in better engagement, improved quality and importantly, building trust.

“After a competitive tender process, we are proud that Link Group has once again been chosen as Rest’s preferred superannuation and retirement solutions partner, and we are excited for the opportunity to work with their team to help deliver on their digital transformation agenda. Our focus is on embedding the new platform and digital services to enable Rest to deliver better retirement outcomes to members,” said McGrath.

Vicki Doyle, Chief Executive Officer, Rest said: 

The proposed agreement was an important milestone in Rest’s aim to reduce complexity in the superannuation sector and be the leading low-cost, digital-led super fund for members.

“As the largest super fund for young Australians, with more than 1.2 million members under the age of 35, we want to strengthen the connection our members feel to their retirement savings. Many of our members are decades from retirement, and don’t understand or feel connected to their super accounts. Fairness and value are important to them.

“We fundamentally believe that the simpler and easier super is for our members to understand and access, the easier it is for them to take action and improve their retirement outcomes.

“This proposed agreement with Link Group aims to support our objectives to make super as easy to understand as possible, while leveraging our scale to deliver the best possible value to them,” said Doyle.

Link Group's Retirement & Superannuation Solutions division counts some of the nation's largest superannuation funds amongst its clients and combines its proprietary technology, scaled process efficiency and the exceptional skills of its people to deliver comprehensive solutions to funds acrossAustralia, the United Kingdom and Hong Kong.

Ends

Media

Ben Wilson, GRACosway +61 407 966 083, bwilson@gracosway.com.au
Nick Howe, GRACosway, +61 407 183 221, nhowe@gracosway.com.au

About Link Group (ASX: LNK) 

Link Administration Holdings (Link Group) is a global, digitally enabled business connecting millions of people with their assets – safely, securely and responsibly. From equities, pensions, and superannuation to investments, property, and other financial assets, we partner with a diversified portfolio of global clients to provide robust, efficient, and scalable services, purpose-built solutions and modern technology platforms that deliver world-class outcomes and experiences.

We help manage regulatory complexity, improve data management, and connect people with their assets through exceptional user experiences that leverage our people's expertise combined with technology, digital connectivity, and data insights.

For more information, please visit: www.linkgroup.com