TelstraSuper has announced that it has signed a non-binding Memorandum of Understanding (MOU) with Aware Super to explore a potential merger between the two superannuation funds.
The merger would bring together TelstraSuper and Aware Super creating a combined, profit-to-member, fund with approximately $228 billion in funds under management and servicing more than 1.3 million members.
This proposed merger represents a significant opportunity to enhance outcomes for all members, with both funds claiming it would facilitate the building of scale, driving of efficiencies, and combining of strengths.
Both TelstraSuper and Aware Super have strong track records of putting members first. It is claimed the proposed merger will:
- Unite digital innovation from Aware Super with TelstraSuper’s personalised service excellence
- Aim to deliver lower fees, a wider investment menu, and a national servicing footprint
- Offer enhanced retirement solutions, financial guidance, and advice tailored to members’ needs
Both funds have said a comprehensive due diligence process will now be undertaken, to ensure the merger is in the best financial interests of its members. If successful, the merger is expected to proceed via a Successor Fund Transfer (SFT) in the fourth quarter of the 2025/26 financial year.
Until then, there is no change to your super:
- Both funds will continue to operate independently
- No action is required from members at this time
- TelstraSuper have said there will be no disruption to member services or employer contributions
Who is Aware Super?
Aware Super is one of Australia’s largest super funds, managing $200 billion for 1.2 million members. The fund is known for delivering strong long-term returns and offering trusted advice to help members enjoy a secure and confident retirement.
Your Union will continue to monitor developments closely and advocate for the best interests of members throughout the merger process.
In the meantime, should you require any further information, please contact Branch Officials Cade Anderson, Lisa Bahls, Peter O’Connell, Brett O’Neill, Clinton Thomas or Branch Assistant Secretaries Cameron Bird, Peter Chaloner, Barry McVee or Nick Towsend on (02) 9893 7822 when calling from NSW or the ACT, (07) 3255 0440 from QLD, (08) 9227 9911 from WA or (08) 8443 7389 from SA or the NT.
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