Australian telecommunications and technology company Telstra’s pension fund arm, TelstraSuper, will merge with Equip Super, creating a combined fund that would manage more than A$60 billion ($38.8 billion), according to a statement.
Equip Super will be the go-forward brand, and the TelstraSuper brand will be retired.
The merged fund will have combined strengths in member and employer servicing, retirement planning, investments and tailored corporate arrangements (including management of defined benefit plans) and will retain strong connections to its heritage industries and connected communities.
It is expected that the merger will achieve significant scale benefits and deliver improved retirement outcomes to the members of each fund while maintaining the personalized service that each fund currently delivers. Members will receive a
