Mine Super and TWUSUPER have confirmed the name of their merged fund, due to be completed in mid-2024, will be Team Super.
The merger was first announced in December 2022 and will create a fund with over 150,000 members and $20 billion in funds under management. A successor fund transfer (SFT) was then signed at the end of September 2023 and Vasyl Nair, chief executive of Mine Super, was named as the head of the new combined fund.
The two funds have now announced it will be called Team Super upon completion.
Mine Super chair Christina Langby and TWUSUPER chair Nick Sherry said the name has been chosen to reflect the industry base of both funds.
“The name Team Super reflects the existing industry base of both funds – transport, energy, and mining workers and a deep ongoing commitment to the history and service to these sectors,” they said.
“The new profit-to-member industry fund, will focus on growth across the industry sectors, while improving the best outcomes possible for members.
“Team Super reflects the vision of a genuine merger, with the opportunity for future merger partners, which reflects the true ‘team’ approach, with an ongoing focus on growth in a particular industry or workplace sector.”
One of the first industry super funds, Mine Super was established in 1941 and manages $12.5 billion for 55,000 members, many of which sit in mining and related industries.
TWUSUPER is a newer fund, having launched in 1984 to provide super for workers in the transport industry. It manages $6.5 billion for 99,000 members.