Hostplus and Club Super confirm merger

23 September 2019
| By Jassmyn |
image
image
expand image

Hostplus and Club Super have confirmed the superannuation funds will merge on 1 November, 2019 after the funds signed a Successor Fund Transfer deed.

Hostplus chief executive, David Elia, said it was a proud moment for both organisations and the decision had not been made lightly.

Both industry funds focused on serving the hospitality, tourism, recreation and sporting sectors. The funds said the strong alignment between the funds and their combined strength could provide for greater future outcomes for members.

“We embrace this opportunity to welcome Club Super members, employers and key staff into the Hostplus family,” he said.

“We will continue to focus on ensuring our merged funds continue to deliver high-quality products and services, investment performance and retirement outcomes for our 1.2 million members and their families.”

Club Super chair Sharron Caddie said the merger demonstrated that member best interests were at the forefront of decision making by both boards.

“In executing the Successor Fund Transfer Deed, we are actively helping to bring enhanced services and benefits to our members and employers, while continuing to recognise and support the community and sporting clubs they work so tirelessly in,” she said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year ago
Kevin Gorman

Super director remuneration ...

1 year ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year ago

The future of superannuation policy remains uncertain, with further reforms potentially on the horizon as the Albanese government seeks to curb the use of superannuation ...

11 hours ago

Super funds had a “tremendous month” in November, according to new data....

4 days 10 hours ago

Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion....

4 days 15 hours ago