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.
