Following our previous announcements regarding a potential merger, we are pleased to confirm that AvSuper and Australian Retirement Trust (ART) have agreed to enter into a Heads of Agreement (HOA). The HOA confirms the intention of both parties to proceed with the merge in good faith. It’s a critical and positive step forward in serving our members best financial interests and comes after an extensive due diligence process.
While the merger is expected to be completed on 30 April 2024, there’s still a lot of work to be done before the merger takes place. Our working groups are continuing to plan and commence activity for this transition behind the scenes, including organising the transfer of the Defined Benefits accounts to ART.
We remain committed to being transparent throughout this process and will keep you updated of progress.
Introducing Australian Retirement Trust (ART)
As the second largest superfund in Australia, ART was created in Feb 2022 from the merger of two Queensland-based funds, QSuper and Sunsuper. At present, their member base is 2.2 million and they manage over $240 billion in members’ funds. Like AvSuper, ART offers defined benefit, accumulation and income stream accounts, and a solid performance history. ART also offers insurance and financial advice to their members and has won a number of customer service awards.
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Register for our next webinar on 24 August to learn more.
If you have any urgent questions, please don’t hesitate to get in touch.
Frequently asked questions