Hostplus Super, a Melbourne-based, A$42 billion ($28.4 billion) superannuation fund, and Club Super, a Brisbane-based fund managing A$600 million, said Monday they have signed a successor fund transfer deed and plan to merge by Nov. 1.
Hostplus serves 1.2 million Australians primarily employed in the hospitality, tourism, recreation and sport sectors while Club Super represents 22,000 members employed in sporting and recreational clubs and associated industries.
The two funds announced in July they had begun talks that could result in Club Super being merged into Hostplus.
Club Super Chairwoman Sharron Caddie said in a news release that a merger would bring “enhanced services and benefits to our members and employers.”
For Hostplus and Club Super members concerned there is information available about the merger on the websites of both funds>>>> https://hostplus.com.au/clubsuper and https://www.clubsuper.com.au/support-and-advice/merger-faqs
For employers, information on payments to employees is found here>>> https://hostplus.com.au/clubsuper