Mine Super and TWUSuper sign SFT deed
In what represents a key step in their merger, Mine Super and TWUSuper have signed a Successor Fund Transfer deed with the merger slated for completion early next year.
The merger will see the creation of a $20 billion fund with 150,000 members.
Confirming the signing of the Successor Fund Transfer deed, Mine Super chair, Christina Langby and TWUSuper chair Nick Sherry, said it represented a meaningful step toward towards the merger.
“Pleasingly, as our two funds have progressed the merger, we are establishing a stronger foundation for the future. We are more convinced than ever of the benefits members will see through the joining of our two funds with shared member first values,” the two chairs said.
The two funds confirmed the final stage of the merger would be dedicated to ensuring a seamless transition for members whilst maintaining the ongoing high levels of service members expect from each fund.
The combined entity will be co-chaired by Mine Super Chair, Langby and Sherry while Vasyl Nair, currently CEO of Mine Super, will become the CEO of the combined fund. Frank Sandy, CEO of TWUSUPER will be remaining to work alongside Vasyl during the transitional period.