The news comes shortly after the MoU between AvSuper and Commonwealth Superannuation Corporation (CSC) was cancelled, with the proposed merger unable to proceed under the current legislative timetable as required changes are unlikely to be delivered in 2023.

“The reasons AvSuper first began exploring merger opportunities remain, and we believe a merger is in our members’ best interests. Partnering with ART will deliver added value, in terms of low fees, greater product choice and strong returns for our members,” said AvSuper chief executive, Michael Sykes.

AvSuper confirmed that ART was shortlisted in its initial expression of interest process 15 months ago, and has remained an interested and suitable partner for a potential merger. The funds will immediately commence due diligence activities with a view to completing the merger in the next 12 months.

ART has strong integration capability, having been formed in 2022 following the merger of Sunsuper and QSuper, and is one of the largest super funds in Australia with over 2.2 million members and more than $240 billion in funds under management.

Importantly, ART has a strong history of serving the public sector, along with extensive Defined Benefit experience and capability. AvSuper and ART both partner with AIA Australia as their insurer.

“We have a member-first culture and still see the opportunity to deliver a merger as critical to members’ long-term retirement needs,” added Mr Sykes.

“The MoU will allow a potential merger to be thoroughly assessed by all parties, with the best interests of members being the key deciding factor. We will keep our members, staff and partners informed of the next steps, providing regular updates via webinars and newsletters just as we have so far.”

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Boutique super fund AvSuper has unveiled a sophisticated online calculator that sets new standards in member service and engagement via an intuitive and richly functional online tool.

In the first three days of release, more than 10% of the Fund’s members had immediately logged on and used the AvSuper Calculator, demonstrating an engagement with members that will drive financial literacy and further innovative services.

AvSuper CEO Ms Michelle Griffiths said “We are extremely pleased to launch the AvSuper Calculator to our members. Being first with this dynamic and innovative approach not only introduces a new and exciting frontier to our fund, it benefits AvSuper members through assisting better informed decision making about their finances.

“We are delighted with how effectively decimal worked with us to provide an AvSuper solution customised specifically to our members’ needs incorporating our Fund rules on areas such as insurance. It’s an exciting phase two of our Member Advice Solution with continuous development for additional features already in the planning stage. Because we remain focused on the needs of our unique members, we can offer highly tailored solutions for our members and the unique needs of the aviation industry which cannot be matched elsewhere.

“Member feedback during a trial and since the launch has been wonderful, with constructive suggestions for future developments as well. We are genuinely excited about the future prospects that this technology represents for our fund and our members.”

decimal CEO, Mr. Jan Kolbusz, applauded AvSuper for its forward thinking on behalf of members.

“What we see here is a truly member centric online calculator, that is fully integrated – including from a compliance, workflow and SOA viewpoint.

“In fact, AvSuper has deployed a highly functional, integrated system that removes data duplication, eliminating annoying downtime for members. Various consoles are available for Fund staff to allow immediate access to SOAs and for monitoring member and SOA activity. This breadth of capability is available because all the consoles run off one set of databases.

“The member is engaged from initial setup of entering minimal details and financial information through to the optional action point of consultation with an AvSuper Member Advice Consultant. The calculator allows the Fund to then continue from the point that the member left off.”

Mr. Kolbusz said the strong partnership between decimal and AvSuper has resulted in the delivery of a new best standard online tool for member service and engagement, combined with a system that makes a quantum technological leap in the age of solving personal advice issues for all Australians.

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