AGEST has confirmed its members will transfer to AustralianSuper at the beginning of next year.
The merger will occur overnight on 31 December, with AGEST members transferred into AustralianSuper's new public sector division effective 1 January 2013.
AGEST said member benefits had already been introduced to AustralianSuper's offering, including daily switching which AustralianSuper announced last month. It will become available in January.
Daily investment return updates and financial planning services in Canberra and Darwin were also retained for the advantage of AGEST members, the fund said.
The merger was announced in December 2011 but deferred last June in lieu of Government's decision regarding capital gains tax relief.
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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