Canegrowers continue to benefit after super fund merger
THE industry super fund for rural and regional Australia, AustSafe Super, has merged with boutique super fund Canegrowers Retirement Fund (CRF).
"We've had a long association with the Canegrowers organisation and, as the industry super fund for rural and regional Australia, there are obvious synergies between our memberships. It makes sense," AustSafe Super chief executive officer Craig Stevens said.
CRF has taken care of the retirement savings of more than 600 active and retired canegrowers and their families for over 30 years but changes in the superannuation industry have forced it and other small super funds to seek merger opportunities.
"Like CRF, we're run only to benefit members so keeping fees low for our members is one of our main goals," Mr Stevens said.
"This can have a big impact on members' retirement saving come retirement."
AustSafe Super has more than 130,000 members located in rural and regional industries.
"An important part of the merger is providing CRF members with their own CRF investment option, mirroring the current CRF investment strategy," Mr Stevens said. Other benefits for CRF members will include savings in ongoing fees, nine additional investment options, and flexible income payment options in retirement and access to low-cost financial advice.