By Megan Cheah

Australian superannuation funds TelstraSuper and Aware Super have agreed to merge to create a US$155 billion investment giant.

TelstraSuper's members will join Aware Super under the agreement announced Tuesday. The combined fund will manage more than 235 billion Australian dollars of retirement savings, equivalent to US$155.52 billion, for more than 1.3 million members, Aware Super said.

"By combining two of the leading retirement specialists, we're bringing together best-in-class retirement products, advice services and exceptional member experience," Aware Super Chair Christine McLoughlin said. "This will position us to set the new standard for retirement outcomes for Australian superannuation members."

TelstraSuper's members will benefit from Aware Super's lower fees and proven track record, the statement said. For Aware Super members, the larger scale will help the fund grow its Australia-based call center and advice services, it said.

The pension funds will operate independently until the merger is executed through a successor fund transfer, in which all member accounts will be transferred. The move is likely to occur toward the end of the 2025-26 financial year, Aware Super said.

Write to Megan Cheah at megan.cheah@wsj.com

(END) Dow Jones Newswires

October 07, 2025 00:34 ET (04:34 GMT)

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