The Qantas Super Trustee Board has entered into an agreement to merge Qantas Super with one of the country’s largest superannuation funds, Australian Retirement Trust (ART).

When completed, the merger will see Qantas Super’s more than 26,000 members and approximately A$9 billion (US$6 billion) in funds under management transfer to ART, which has close to A$300 billion (US$200 billion) in funds under management.

“Throughout the process of exploring merger options, Australian Retirement Trust has demonstrated its strong commitment to taking care of our members and their best financial interests.” said John Atkin, chair of Qantas Super. “We believe that ART will be the right partner to help our members feel confident in their financial future so they can look forward to retirement.”

According to InvestorDaily, ART has already undertaken four successor fund transfers and corporate transitions totalling some A$19 billion (US$13 billion), includin