The funds have agreed to merge, creating a $235 billion fund serving more than 1.3 million Australian members.
Aware Super and TelstraSuper have signed a heads of agreement that will see the latter fund’s members join Aware Super, forming a combined fund managing more than $235 billion in retirement savings for over 1.3 million members.
As a result of the merger, TelstraSuper members will gain access to Aware Super’s lower fees and benefit from its track record of strong investment performance, personalised support, and digital advice and planning tools, Aware Super stated.
TelstraSuper chair Anne-Marie O’Loghlin AM commented: “Aware Super’s strong member-first ethos, commitment to long-term performance, and focus on delivering better retirement outcomes reflect the principles TelstraSuper has always stood for.
“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.”
For existing Aware Super members, the larger scale is expected to help maintain and improve local call centre and advice services, broaden access to investment opportunities, and continue upgrades to its digital tools.
Aware Super chair Christine McLoughlin AM said: “TelstraSuper’s legacy of personalised service and member loyalty aligns perfectly with ours, while their corporate expertise will significantly enhance our offering.
“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 funds are expected to continue to operate independently until the merger is successfully completed via a successor fund transfer, set for the end of the 2025–26 financial year.
Aware Super and TelstraSuper announced on 31 July 2025 that the signing of a non-binding memorandum of understanding (MoU) was completed.
This followed TelstraSuper scrapping plans to merge with Equip Super in May 2025, citing that the merger would no longer be in its members’ best financial interests.
