VicSuper explores merger opportunities with First State Super
Today we’re really pleased to announce that we’ve started discussions with First State Super to explore the benefits of a merger.
We’re in the early stages of discussions, however, we both believe a merger that builds on our shared heritage, values and strengths could provide significant benefits for our members.
We have a lot in common. We’re both profit to member funds, put our members first and believe in the importance of financial advice to help our members make the most of their retirement savings, while also sharing members from similar industries.
The opportunity to achieve greater scale through a merger like this could help us create even better member outcomes through enhanced services and broader investment opportunities delivering sustainable investment returns.
Combined, we’d become one of Australia’s largest super funds, managing more than $110 billion in retirement savings for more than 1.1 million members.
We’re just exploring opportunities at this stage and neither fund has made any decisions to merge and there’s no obligation to proceed. Our priority is always to act in our members’ best interests. Regardless of the outcome, our members will continue to be our number one priority.
Nothing has changed and it’s business as usual here at VicSuper. While discussions are underway our team will continue to provide the same award winning, personalised service to members and employers, and we’ll keep everyone updated once we’ve fully explored the opportunities.
If you have any questions, you can give our Member Services team a call on 1300 366 216.