Trustee briefings to select the NTG default superannuation fund and new NTGPASS fund.
The Northern Territory Government is consulting with superannuation fund trustees prior to seeking proposals to select the next default superannuation fund for new choice-of-fund employees as well as the successor fund for members’ savings within Northern Territory Government and Public Authorities’ Superannuation Scheme (NTGPASS), a closed defined benefit superannuation scheme.
The default superannuation fund exists to accept employer superannuation contributions from the Northern Territory Government for new choice-of-fund employees who have not nominated a superannuation fund. AustralianSuper is the current default superannuation fund for new choice-of-fund employees. This arrangement expires on 9 February 2019. The background and industry briefing papers for selection of the next default fund can be accessed here.
The fund within NTGPASS contains the accumulation accounts of NTGPASS members, and comprises their savings and earnings on them. The NTGPASS fund is going to be transferred to a new trustee to manage and invest on behalf of members. Importantly, the employer-funded defined benefit of NTGPASS members will be unaffected by the transfer. The background and industry briefing papers for selection of the new trustee for the NTGPASS fund can be accessed here.
An industry briefing is being held in Darwin to assist trustees interested in participating in either or both selection process. Details of the briefing are:
10am Central Standard Time on Wednesday 15 August 2018
Department of Treasury and Finance Boardroom
Level 14, Charles Darwin Centre
19 The Mall, Darwin
Trustees can also attend the briefing via webinar.
To register attendance at the briefing, or to obtain webinar login details, please email email@example.com
Read more about the NTGPASS management reforms.