16 May 2022

UniSuper (close to $110 billion fund) and Australian Catholic Superannuation ($11 billion fund) today announced they have reached an important milestone as they explore a potential merger of the funds.

UniSuper’s CEO Peter Chun said:

“We are really pleased to announce that following an extensive due diligence process and independent review, each board has concluded that the merger is in the best financial interests of their respective members. The Board and Management of the two funds have worked collaboratively to reach this milestone of executing Heads of Agreement”.

A thorough planning process will now commence to ensure a smooth transition for Australian Catholic Superannuation  (ACS) members to migrate across to UniSuper.

Mr Chun said:

“At UniSuper we have the members at the forefront of our minds every day. Ensuring a smooth and easy transition for ACS members is vitally important. We look forward to welcoming them to UniSuper and helping them to create futures worth retiring for that don’t cost the earth.”

ACS CEO Greg Cantor said:

“Our Fund’s strategy to achieve greater scale is part of our commitment to act in the best financial interests of our members. The proposed merger with UniSuper will provide our members access to one of the few funds in Australia with over $100 billion in funds under management and one that is well positioned to help them achieve the retirement outcomes they desire.”

The next stage will be to work through a detailed planning process, and it is anticipated that the merger will be finalised by the end of the year. UniSuper and ACS will continue to communicate with their members, employees, employers, and key stakeholders to keep them updated as they progress this merger.

View our frequently asked questions.

 

For more information

Alicia Rieniets
UniSuper
P 03 8831 6032
alicia.rieniets@unisuper.com.au

Rhys Ryan
Porter Novelli
P 0427 227 719
E rryan@porternovelli.com.au

Australian Catholic Superannuation:
Scott Rochfort
Cannings Strategic Communications
0435 878 614
E srochfort@canningscomms.com.au 

 

Note to editors

UniSuper is one of Australia’s largest superannuation funds and is run solely for the benefit of its members. For more than 35 years, UniSuper has been managing super for people employed in the higher education and research sector and is now open to all Australians. UniSuper currently invests close to $110 billion on behalf of over 500,000 members.  

Australian Catholic Superannuation is the super fund of choice for the Catholic community in Australia and is open to anyone eligible for superannuation. Over 85,000 members and more than 15,000 participating employers nationally have selected Australian Catholic Super as their choice of superannuation fund. As a not-for-profit super fund, it exists solely for the benefit of its members, looking after over $11 billion funds under management. Visit www.catholicsuper.com.au.

 

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