Requests for Proposals
Requests for proposals to select the NTG employees’ default superannuation fund and successor fund for NTGPASS are now invited.
The Northern Territory Government is 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.
Background information, selection criteria for the next default fund and details on how to submit proposals 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.
Background information, selection criteria for the new trustee for the NTGPASS fund and details on how to submit proposals can be accessed here.
To be considered, funds need to ensure their proposals are received in Darwin by 5pm on Friday 12 October 2018.
Read more about the NTGPASS management reforms.