We’re excited to announce that on 29 November 2019 we finalised an unconditional agreement to merge with MTAA Super on 1 October 2020.
This will create Australia’s most dynamic super fund with a combined scale of $23.6 billion in funds under management and 335,000 members nationwide.
The decision follows a comprehensive due diligence process ensuring both parties are satisfied the agreement is in the best interest of members 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.
“Together, our increased scale will deliver you stronger investment returns and decreased fees, as well as delivering improvements and efficiencies in product and service delivery,” Ms Edwards said.
“The merger will also enable us to expand our member-servicing footprint Australia wide.
“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 have a lot in common – we’re both award-winning with a strong focus on excellence and by combining our strengths, we’re creating a multi-industry fund providing quality and customised service to members and employers across the country.”
“Our combined fund will bring customised super solutions to all Australians, across all locations and life stages.”
Naomi, who has been Chair of Tasplan since 2011, will stay on as Chair of the new combined board. Having led us through several mergers, which has seen the fund grow from $2.4 billion to just over $10 billion, she brings invaluable experience and leadership to the merger process.
You can be confident that the high quality support and services that you rely on will continue, face-to-face, over the phone and online
We’re looking forward to the opportunities the merger presents to servicing Tasmania and beyond and are committed to making the transition as smooth as possible for you.
This article is general information only. Readers should consider getting financial advice before making financial decisions.