News16 March 2020

Merger update


In November last year we announced that we are merging with MTAA Super.

Since then we’ve been working together to make the merger happen on our target date of 1 October this year.

The merger comes at a time when the super industry is under increased scrutiny from the government to ensure that funds have sufficient scale to provide competitive super products and services into the future. The expectation is that we’ll see increasing consolidation in the super industry as a whole.

Being aware of the current political and legislative landscape, MTAA Super and Tasplan have chosen to be on the front foot so that we’re in control of our own destiny, and of member outcomes.

This merger signifies both organisations innovating to achieve stronger returns and a deeper connection with more members, wherever they are. We’re committed to retaining all the personal customer service benefits of a smaller fund, while delivering the financial assurance of a larger one.

At Tasplan we’re proud of our service and education program and how it supports our membership.

Our services include face-to-face and over-the-phone consultations, financial planning, workplace seminars, education sessions, retirement expos, employer support and pop-up shops across the state.

Importantly, the new fund will continue to deliver these high-quality services around the state of Tasmania.

We’re excited to work with MTAA Super to create Australia’s most dynamic fund, the combined strengths of our two funds will place the new fund in a highly competitive position in the industry, beyond what could be achieved individually. The MTAA Super and Tasplan partnership will deliver the following key benefits:

• Scale in the vicinity of $24 billion in funds under management and 330,000 members nationwide
• Strong investment returns and decreasing fees for members
• Improved national product and service offering for members and employers
• In house administration and digital capability and
• Increased internal capability by leveraging the strengths of both funds.

Tasplan Chair Naomi Edwards said the merger would create additional jobs in Tasmania, with the insourcing of MTAA Super’s administration to our Hobart-based administration centre.

‘The insourcing of MTAA Super’s administration to our Hobart administration centre will grow financial services skills in Tasmania and see a much-needed increase in employment opportunities in the state.’

We’ll continue to keep you informed as the merger activities continue, and if there are any changes that impact you directly we will let you know. If you have any questions, in the mean time please refer to our website.

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