Shell Australia Ltd., Melbourne, selected Plum Financial Services as its new superannuation provider, pending trustee approval.
If approved, oversight of Shell's retirement plan assets could be transferred to Plum during the final quarter of 2013, according to an announcement on the superannuation fund's website.
Late last year, Shell announced it had decided to outsource management of its employees' retirement assets.
According to Shell Australia Superannuation Fund's annual report for 2012, the fund's portfolio assets stood at A$700 million (US$678 million) as of Dec. 31, 2012.
Paul Zennaro, a spokesman for Shell Australia, declined comment.