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“We know that size and scale are critical drivers to delivering better long-term retirement outcomes for our members,” Stewart said.
“As we grow, we are able to leverage our scale to drive down costs to members, maintain our record of top performance and expand the range of products, guidance, advice and education services that we can provide.
“Through our increased scale we are also in a position to in-source our member administration and deliver market-leading digital services to ensure our members can access simple, streamlined support.
“Our aim is to ensure our members can access the best financial education, advice and guidance when and how they need it, all while enjoying top-10 performance and low fees.”
QSuper and Sunsuper Merge to Create Australia’s Largest Retirement Fund
QSuper and Sunsuper have agreed to merge, after 15 months of negotiations, to become a single superannuation fund, making it Australia’s largest.
The move, announced on March 15, aims to integrate the two top-performing funds into a new entity with two million members and $200 billion in assets.
QSuper Chair Don Luke and Sunsuper Chair Andrew Fraser said the agreement would pave the way to create “an organisation of world-class capability” with the scale to deliver “outstanding services, greater efficiencies, and lower costs for members.”
“The combination of QSuper’s public sector heritage in Queensland and Sunsuper’s national employer base, combined with a commitment to partnering with external financial advisers, will create a diversified and resilient organisation investing on behalf of 2 million members,” the two entities said in a joint statement (pdf).