Aware Super, TelstraSuper sign $235b binding merger agreement
Make us a preferred source
Make us a preferred source on Google
The news: Superannuation funds Aware Super and TelstraSuper have signed a binding heads of agreement to merge into an entity that would manage more than $235 billion in retirement savings.
The context: The merged entity would have more than 1.3 million members. The two funds first signed a non-binding memorandum of understanding to consider a merger at the end of July 2025.
The funds will operate independently until a successor fund transfer is executed. This is expected to take place “towards the end” of FY26, according to a joint statement.
The two funds said that TelstraSuper members would “benefit from Aware Super’s lower fees” and record of strong investment returns.
The increased scale would also enable existing Aware Super members to access growing “Australian-based call centre and advice services, secure premium investment opportunities and continue investment in market-leading digital tools”.
What they said: “Together, we’re creating a stronger future for our members. We think it makes sense to join a fund whose values so closely align with our own,” TelstraSuper chair Anne-Marie O’Loghlin said.
Aware Super chair Christine McLoughlin said: “By combining two of the leading retirement specialists, we’re bringing together best-in-class retirement products, advice services, and exceptional member experience".
“We believe this will position us to set the new standard for retirement outcomes for Australian superannuation members.”
The source: Aware Super and TelstraSuper joint media release
