Industry funds QSuper and Sunsuper have set a revised merger date for November 2021.
The merger was announced earlier this year with Sunsuper chief executive, Bernard Reilly, to be the new chief executive.
A spokesperson for Sunsuper said: “Since signing the heads of agreement in March, we have progressed our plans to create a $200 billion superannuation fund, headquartered in Queensland, open to all Australians.
“To ensure the success of our planned merger, we have revised the target merger date to November 2021.
“This is six weeks later than the original objective announced in March, a reflection of the size, scale and complexity of the transaction which is intended to benefit two million members.
“Trustees of each fund believe this is in the best interests of our combined membership, to ensure a seamless experience.”
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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