The Independent Education Union of Australia (IEAU) NSW/ACT branch has welcomed the announcement that NGS Super and Australian Catholic Super will merge.
NGS Super and former IEAU NSW/ACT secretary, Dick Shearman, said the merger would deliver economies of scale and the ability to improve member services.
The union said it looked forward to continuing the relationship with the fund through sponsorship of union events and hosting superannuation and financial education sessions for members in union venues.
Also commenting, the branch’s secretary, Mark Northam, said: “The union expects meaningful engagement during the merger process so we can ensure our members’ best interests are served”.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
Rest has joined forces with alternative asset manager Blue Owl Capital, co-investing in a real estate trust, with the aim of capitalising on systemic changes in debt financing.
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.