TelstraSuper to merge with Equip Super
Australia’s largest corporate superannuation fund, TelstraSuper is to merge with Equip Super.
The two superannuation funds confirmed that their boards had entered into a merger agreement and had signed a non-binding Memorandum of Understanding to explore ‘a merger of equals’.
The announcement said the merger would create a combined profit to member fund with around $60 billion in funds under management and more than 225,000 members.
The announcement said the agreement to pursue the Merger followed a comprehensive review of potential merger partners undertaken by the TelstraSuper board.
Good luck to Equip Super.
TelstraSuper are one of the worst to deal with as an external financial planner – even when we are trying to give them money!