The agreement confirms both parties' intention to explore a merger and sets out the framework that will be used to assess, consider and prepare for the implementation of a merger. The two funds will now undertake further due diligence including confirming the initial view that the merger is in the best financial interests of members of each fund.

The merger would create a combined profit-to-member fund with around $60 billion in funds under management with more than 225,000 members. It is expected that the merger would achieve significant scale benefits and deliver improved retirement outcomes for members whilst maintaining the personalised service that that the two funds currently provide. 

The agreement between TelstraSuper and Equip Super follows a comprehensive review of potential merger partners undertaken by the Board of TelstraSuper. After considering a range of options, Equip Super was chosen as an ideal merger partner as their strengths complement those of TelstraSuper's.

Anne-Marie O’Loghlin, Chair of TelstraSuper said, "Both funds have a proud history in serving the superannuation needs of a wide range of members including the employees of large companies. Over time we have both grown to support a broad and diverse membership. 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."

Michael Cameron, Chair of Equip Super said, "TelstraSuper is a highly regarded fund that brings complementary capability and the scale required to deliver tangible benefits for members.  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."

Both Equip Super and TelstraSuper provide products and services that are well-aligned with the needs of all members across a range of career stages including those members in the pre- and post-retirement phase. The merger would also leverage their combined strengths in member and employer servicing, investments and tailored corporate arrangements, including defined benefit plans.

The merged fund will retain strong connections to its heritage industries and connected communities, particularly telecommunications, entertainment, energy, mining, healthcare and education.

The funds will continue to operate independently at this time, with no disruption for members or employers.

Pending the outcomes of due diligence, it is expected that the merger would be executed via a Successor Fund Transfer in late 2025.

If you have any questions about this announcement, please review our frequently asked questions at the bottom of this page. If you have any other questions or need help with any other aspect of your TelstraSuper account, please call us on 1300 033 166 between 8.30am and 6.00pm (Melbourne time), Monday to Friday.

Read our Frequently Asked Questions below. These may be updated throughout the merger process. FAQs with a * indicate a new or updated question