TelstraSuper and Equip Super Merge

SYDNEY (Reuters) – Australian telecom major Telstra's pension fund arm, TelstraSuper, is set to merge with Equip Super, creating a combined fund managing around A$60 billion ($38.8 billion), according to a joint statement released on Tuesday.

The merger follows a non-binding memorandum of understanding signed in September to explore this union between the two funds.

After the merger, which is expected to close in late 2025, TelstraSuper will be retired. The newly merged fund will support approximately 225,000 members.

Equip Super, established nearly a century ago, currently manages around A$35 billion in funds and oversees superannuation arrangements for some of Australia’s largest corporations.

($1 = 1.5449 Australian dollars)