Link Group Update
As the largest division in Link Group’s portfolio, the Retirement and Superannuation Solutions (RSS) business continues to benefit from strong underlying member growth, which in turn supports recurring revenue growth. At our full year results in August, we reported underlying member growth of 9.1% for FY 2022. The strength of this organic growth has continued into the start of FY 2023, with RSS adding a further 260,000 members to its core administration platform in the first 4 months of this financial year, across three jurisdictions.
We have also successfully completed our acquisition within RSS of HS Pensions in the UK. This is an important step in our growth ambitions and commitment to the UK market, by extending our capability, technology and platform to service existing clients. The HS Pensions acquisition is already presenting additional opportunities for us in the UK market, which we are currently assessing.
Link Group continues to build on its global strategic growth ambitions, entering the Hong Kong pension market at a time when the industry is making a structural shift towards a more automated and digital environment. In February, we announced our partnership with HSBC for the provision of innovative, digital administration solutions and services to support its Occupational Retirement Scheme Ordinance (ORSO) business.
Link Group has confidence the business can leverage its global expertise to establish a meaningful presence in Asia in 2023 and we look forward to keeping you up to speed on developments.
Retirement & Superannuation Solutions
Our Retirement & Superannuation Solutions division combines its proprietary technology, process and people to deliver a comprehensive financial data solution to our superannuation clients. Supporting our clients across all superannuation fund sectors including government, industry, retail and corporate.
By accompanying our core member and employer administration with a full range of value-added services, we offer the most comprehensive superannuation administration solution on the market. The scale, adaptability and ease of use of our proprietary systems, in conjunction with our integrated analytics offering, allow us to innovate and grow with the needs of our clients.
Our Retirement & Superannuation Solutions team will work with you every step of the way, helping clients achieve superior outcomes through effective solutions.