Successor Fund Transfer News
Fact Sheets and Bulletins regarding the Successor Fund Transfer (SFT) of NTGPASS retained accounts were added to this page as they were issued.
Transfer of NTGPASS Retained Accounts
The Northern Territory Government approved a SFT for NTGPASS retained accounts in April 2015. Active and retained account members were contacted via email (where the Superannuation Office held a current email address) or letter (where a current email address was not available) advising them of the SFT, and that proposals from a number of funds were being considered.
The Superannuation Office was responsible for undertaking the necessary due diligence to ensure the transfer to the new superannuation fund was in the best interests of members. Following a competitive review process, Sunsuper was recommended to the Superannuation Trustee Board and the Commissioner of Superannuation as the Successor Fund. This recommendation was accepted in August 2015.
More detail regarding the selection process and Sunsuper is in Bulletin 1 below. Bulletin 2 provides an overview of the transfer process as well as a Best Interests comparison between NTGPASS and Sunsuper. Bulletin 3 provides an update on the passage of legislation, the signing of a Successor Fund Deed and the date on which the SFT proceeded and further information is provided in the Successor Fund Transfer - Retained Accounts fact sheet.
The SFT occurred on 15 February 2016. On 12 January 2016, a Significant Event Notice regarding the SFT was posted and emailed to all NTGPASS Retained and Spouse members.
Last updated: 07 March 2018