TelstraSuper and Equip Super are in discussion to merge the two funds by late 2025
TelstraSuper and Equip Super have signed a non-binding Memorandum of Understanding (MoU) to explore a “merger of equals.” A merger would create a $60 billion superannuation fund with more than 225,000 members.
The merger is subject to ongoing due diligence to establish whether the move is in the best financial interest of fund members. If successful, the funds will enter into a Successor Fund Transfer in late 2025.
“We are excited about the potential benefits that come from a merger and the opportunity to create a larger fund continuing the focus on providing industry leading superannuation, retirement and financial planning solutions for members,” Anne-Marie O’Loghlin, Chair of TelstraSuper, said.
“Both funds have a proud history of serving the superannuation needs of a wide range of members, including the employees of large companies. Over time, we’ve both grown to support a broad and diverse membership.”
For now, both funds will continue to operate independently, with no disruption to members or employers, pending the due diligence process.
“TelstraSuper is a highly regarded fund that brings complementary capability and the scale required to deliver tangible benefits for members,” Michael Cameron, Chair of Equip Super, added.
“With similar heritages in corporate superannuation arrangements, shared values, and a common focus on retirement solutions and advice, we are excited by the opportunities this merger presents for Equip Super’s members and employers,” he said
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