Wednesday, 1 December 2021
Aware Super has completed the successor fund transfer to finalise its merger with the Victorian Independent Schools Superannuation Fund (VISSF).
From today, VISSF members are now part of Aware Super, Australia’s largest provider of superannuation, advice and support services for the primary and secondary education sector.
Following the merger, Aware Super now supports more than 200,000 members in the education industry to achieve a better financial future.
Aware Super Chief Executive Officer Deanne Stewart said that now the merger was complete, the Fund’s priority was to ensure VISSF members were supported in their transition into Aware Super and experienced all of the benefits of being part of a larger fund.
“Our focus now is to ensure that we carry on the incredible legacy established by VISSF’s passionate and progressive founders more than 60 years ago and drive genuine economies of scale to provide all of our members with top performance and services, while striving to reduce our fees.
“Through this merger we look forward to building on our leading offering for members in the primary and secondary education sector, and providing them with the right help, education, guidance and support to enable them to achieve the kind of retirement they deserve.”
This is the third merger Aware Super has completed in the past 18 months, including mergers with VicSuper and WA Super in 2020.
Ms Stewart said the speed with which the Fund had delivered three significant mergers was testament to the incredible experience of its dedicated merger team.
“Over the past three years there has been unprecedented consolidation in Australia’s superannuation industry, and there is more to come,” she said. “Aware Super has been at the forefront of this activity, with a dedicated team of experienced merger professionals helping to smooth the pathway to successful mergers.
“Over the past two years we have learned some incredible lessons about how to make successful mergers happen – lessons we will look to deploy in future merger opportunities.”
“Our team’s experience and deep understanding of how to deliver what can be complex mergers in a streamlined and effective way means we have been able to deliver three mergers in less than two years and, along with that, provide numerous benefits to our members.”