Mine Super and TWUSUPER continue to make significant progress towards their merger which will see the two funds unite as Team Super in early 2025. Mine Super has recently enhanced its investment and insurance structures to benefit members and simplify the path for merger completion as reported in the media. Mine Super members will also benefit from a 25% reduction to the administration fee from $1 to $0.75 per week (from $52 per year to $39 per year).

Team Super will create a $21 billion fund for over 150,000 members. The newly merged fund is expected to continue to deliver strong returns, lower fees, and insurance tailored to workers in the transport, energy and mining industries. The name Team Super reflects the existing industry bases of both funds and an ongoing commitment to the history and service of these sectors.

In a joint statement, Mine Super Chair, Christina Langby and TWUSUPER Chair, Nick Sherry stated, “The merger of our two funds remains in the best financial interests of our members and significant progress towards achieving this outcome has been made, including streamlining our investment and insurance offerings. Extending the completion date enables both funds to focus on a smooth transition for members”.

While delays in super fund mergers are not uncommon, the focus has always been on ensuring a high-quality outcome for members of both funds. Mine Super and TWUSUPER remain committed to ensuring external service providers, regulators and most importantly, members, are engaged throughout the process.