TelstraSuper-Aware Super merger complete

TelstraSuper and Aware Super have successfully completed their merger, less than a year after they began to explore the proposal.

About 85,000 TelstraSuper members have now joined Aware Super via a Successor Fund Transfer (SFT) to create a superannuation fund with approximately 1.3 million members and over $235 billion in funds under management.

The two funds first announced plans to explore a merger in July last year, signed a Heads of Agreement in October and executed the SFT on April 30.

"This merger is a significant achievement in the history of Aware Super and TelstraSuper and enables members to benefit from the deep retirement and advice capabilities of both organisations, greater scale and enhanced member outcomes," Aware Super chief executive Deanne Stewart said.

"Remarkably, it has been achieved in only nine months which speaks to the alignment of values and strong execution capabilities of both organisations.

"We are thrilled to welcome TelstraSuper members to Aware Super and excited at the opportunities ahead to help them achieve their best possible retirement."

Stewart also thanked the board of TelstraSuper, the executives and broader team for helping to make the merger a success.

"Our sincere thanks to the TelstraSuper board, executive and broader team for their dedication to their members and making the merger a success," she said.

"We're pleased to see the merger successfully completed, and proud that TelstraSuper has joined with the right partner to support our members' long-term best interests. Aware Super shares our deep commitment to members and is well placed to continue delivering strong retirement outcomes," former TelstraSuper chief executive Chris Davies said.

"Congratulations to everyone involved across both organisations for their hard work and unwavering focus on supporting our members - now and into the future."

Aware said it will continue a period of heightened support and additional resourcing over the coming weeks to ensure member questions and requests are responded to promptly.