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Journos meet printersPrint and Just announce intention
After years of speculation that such an arrangement might occur, and Print Superin late December announced an in-principle decision to merge.
The merger, if it occurs, will result in the formation of a 108,000-member fund with assets in excess of $2 billion.
The decision to pursue a merger was made by the boards of both superannuation funds in mid-December on the basis that such an arrangement would provide the necessary scale to better service its members’ interests.
Commenting on the proposed merger, the chairman of Print Super, , said the two funds believed combining both operations represented a strategic move that would achieve significant benefits.
“We are determined to remain competitive over the long-term and want to make decisions that allow for the best retirement incomes for members,” he said.
Just Super chairman said the two funds covered complementary industries, with their memberships representing a natural fit for a merged entity.
A working party comprised of the board members and chief executives of each fund has been formed, with a target date for completion of the merger having been set for June 30.
AUTHOR
Mike Taylor
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