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TelstraSuper and Aware Super announce plans to explore merger

04 Aug 2025
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Anne-Marie O’Loghlin

TelstraSuper and Aware Super have announced the signing of a non-binding Memorandum of Understanding (MOU) to explore a potential merger between the two superannuation funds.

The proposed merger would create a combined profit-to-member fund with approximately $228 billion in funds under management and serve over 1.3 million members.

Both organisations will now undertake a comprehensive due diligence process to ensure the proposed merger is in the best financial interests of their respective members.

The potential merger represents a significant opportunity to build scale and enhance outcomes for members of both funds.

By combining Aware Super’s innovative digital capabilities with TelstraSuper’s personalised service excellence, the parties say the merger has the potential to deliver enhanced retirement solutions, market-leading financial guidance and advice, along with an unwavering focus on member services that can make a real difference to members’ lives.

The combined entity will look to establish itself as the most trusted leader in retirement, with the scale and expertise to support Australians throughout their retirement journey.

TelstraSuper Chair Anne-Marie O’Loghlin AM said: “Aware Super is a highly regarded, award-winning fund with the scale to help deliver improved retirement outcomes for members. It is expected that the proposed merger will deliver lower fees, an expanded investment menu and a national servicing footprint to help TelstraSuper members further enhance their planning and transition into retirement.”

Aware Super Chair Christine McLoughlin AM said: “This proposed merger presents a compelling opportunity to unite two funds that share a deep commitment to member-first values. TelstraSuper’s legacy of personalised service and member loyalty aligns seamlessly with Aware Super’s focus on being super helpful, super easy, and delivering super returns. We also look forward to welcoming TelstraSuper’s strong corporate employer relationships and specialised capabilities that will significantly accelerate our corporate super offering.

Together, we can amplify our strengths to deliver even greater retirement outcomes for our members, with market-leading retirement offerings, truly personalised help and guidance and global investment capabilities.”

Pending the outcomes of due diligence, it is expected that the merger would be executed via a Successor Fund Transfer (SFT) in the fourth quarter of the 2025-26 financial year.

While the due diligence process is underway, both funds will continue to operate independently with no disruption to members or employers.

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