Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Lutheran Super to merge into Mercer Super

M&A-activity/

24 August 2022
| By Staff |
image
image image
expand image

The S700 million not-for-profit fund Lutheran Super has announced it is to merge into Mercer Super, with the transfer set to take place in the fourth quarter this year.

John Grocke, chair of Lutheran Super, said the merger is in the best interests of its 5,700 members, including more than 300 pensioners.

“From the outset, we have sought a merger partner that could deliver the best retirement outcomes possible for our members,” Grocke said.

“Following a rigorous process, we’re pleased to have chosen the Mercer Super Trust, where our members will access a wider range of services, options and personalised support to get the most out of their super or pension,” he added.

“Importantly, members will continue to benefit from our tailored balanced investment option as well as other characteristics of the existing plan.”

The merger follows the announcement at the end of May that BT Super would merge into the Mercer Super Trust.

Tim Barber, CEO of Mercer Super, said the firm looked forward to serving Lutheran Super members.

“Mercer is proud of its long-term partnership with Lutheran Super, having provided administration, investment management and consulting services for the fund over many years,” Barber said.

“We know well the commitment they have to helping their members enjoy a healthy retirement, and we look forward to welcoming them to Mercer Super,” he added.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

1 day 19 hours ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 week 1 day ago

So we are now underwriting criminal scams?...

6 months 1 week ago

Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cos...

4 weeks 1 day ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 days 15 hours ago

Libby Roy has been appointed as an independent non-executive director on the board of AZ NGA....

3 weeks 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
74.26 3 y p.a(%)
3