POWERED BY MOMENTUM MEDIA
(November-2003) Bell rings for school fund merger talks
Merger talks between the Non-Government Schools Superannuation Fund (NGS Super) and the Independent Schools Superannuation Trust (ISST) have restarted after being put on ice earlier this year.
NGS Super chairman Geoff Newcombe confirms that informal talks are being held “to see if we have common ground for further discussions”. “I will be disappointed if these don’t become more formal,” he adds.
There is, however, no official schedule for the talks at this stage.
Newcombe says: “We are very conscious of our need to grow the fund, but it has to be in a way that benefits our members… It’s possible that this could be a good match.”
The merged funds could have around 80,000 members and over 900 non-government schools under its wing. It could also have assets of around $1 billion.
According to Newcombe, a merger could help the new combined fund entrench a national base and give it the scale to became more attractive to other school related funds.
AUTHOR
Zilla Efrat
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