CareSuper and MIESF confirm merger plans

CareSuper and the Meat Industry Employees Superannuation Fund have confirmed reports of their intention to merge.

The two funds said they had entered into a binding agreement after extensive due diligence with the merger expected to be completed later this year.

The arrangement will see around 17,000 members become part of CareSuper and the addition of $1 billion in funds under management.

The announcement said the merger would be subject to both funds completing their respective members’ best financial interests tests and equivalent rights assessments and then signing a Success Fund Transfer Deed.