BP super plan to join Plum

11 July 2010

More than 2,500 employees of BP Australia will soon be able to plan their retirement savings through the specialist superannuation expertise of Plum Financial Services Limited (Plum).

Plum has been appointed to provide superannuation services for the $470 million BP Superannuation Fund.

Plum's Managing Director Scott Hartley said the transition of the large fund reinforces Plum's expertise in providing a comprehensive range of member benefits, in conjunction with the investment skill offered by JANA Investment Advisers^*, who will be managing the funds assets.

"The BP Fund builds on a strong year of growth for Plum with more than 45,000 new members, representing an additional $4.7 billion in funds under administration."

The funds which joined Plum in the past year included Royal Automobile Club of Victoria Limited, Merck Sharp & Dohme (Australia) and the NAB Staff Superannuation Fund.

"The successful transitioning of these large superannuation funds confirms the robustness of our automated testing which enables us to smoothly integrate new clients and their employees," Mr Hartley said.

^*Plum and JANA are both subsidiary companies of MLC Limited, one of the National Australia Group of companies.