HESTA back on line with GROW
Having weathered some criticism for disruption to its online services, major health industry fund HESTA has announced that it has completed the transition of its member administration services to Grow Inc.
The fund announced that it had concluded what it described as one of the largest and most comprehensive technology projects undertaken by an Australian industry superannuation fund.
It said that during the limited services period, HESTA transitioned more than one million members to the new service provider and industry-leading technology platform, with more than a decade’s worth of data transferred.
It said the fund also integrated a new contact centre, digital services and mail house to help ensure ongoing support, advice and communication with members.
HESTA first announced its decision to move from Link Group to Grow Inc in June 2023.
HESTA chief executive, Debby Blakey said major changes such as those undertaken by the fund were challenging and she thanked members and employers for their patience and understanding,
“The new technology platform is already providing significant data transparency, supporting real-time member updates and improved service integration. This will help us innovate faster to provide more personalised services and make managing super easier for our one million-plus members.”
HESTA has completed processing of employer super contributions and most income stream member payments have resumed their regular schedule.
Among online services available this week include the ability for members to log into their online accounts via the website and the HESTA App, see updated balances and update personal details. Members can also manage insurance cover and claims and switch investment options online.
The fund announcement said that while online services have resumed, HESTA advises members that processing times for some transactions may initially take longer than usual as the team continues to process requests received during the planned limited services period.
It said the move to GROW Inc is the culmination of over two years of preparation to help ensure the secure and accurate transition of member data and services to the new administration provider.
There’s been a LOT of interest in this significant change project, especially across the industry fund sector and the regulators. The Australian superannuation sector is crying out for high quality, highly competent and affordable fund administration service providers.
Time will tell if this has been a successful move, and if it is, it’s very likely that a number of other large funds will follow suit.