Aware Super and TelstraSuper have entered a binding agreement to merge, solidifying a trend of consolidation within Australia’s superannuation sector. This follows a memorandum of understanding signed by both entities several months ago to explore potential merger benefits. The combined fund will manage over $235 billion in retirement savings, further concentrating assets within the $4.2 trillion superannuation industry. Aware Super is one of Australia’s largest super funds, providing retirement services to a diverse membership base. TelstraSuper is the superannuation fund for employees of Telstra, one of Australia’s largest telecommunications companies.
TelstraSuper chairwoman Anne-Marie O’Loghlin highlighted the strategic alignment between the two funds. “We’re creating a stronger future for our members,” O’Loghlin said. “We think it makes sense to join a fund whose values so closely align with our own.” This merger reflects a broader movement within the superannuation industry, where larger entities are formed to achieve economies of scale and deliver enhanced member outcomes.
The merger will create one of Australia’s largest super funds. The increased scale is expected to lead to reduced costs and improved investment opportunities for members. It is anticipated that the combined entity will be able to leverage its size to negotiate better deals and provide more competitive services.
The merger is expected to be completed shortly before June 30, 2026. Members of both Aware Super and TelstraSuper will be kept informed as the integration progresses. The combination marks a significant development in the Australian superannuation landscape, creating a powerful player with substantial resources.
