TelstraSuper and Aware Super binding merger agreement
The Communication Workers Union acknowledges the recent announcement that TelstraSuper and Aware Super have signed a binding agreement to proceed with their proposed merger.
While the CWU is not a party to the merger, we do have representation on the TelstraSuper Board of Directors and will continue to use these positions to advocate strongly for the interests of our members throughout this process.
We recognise the potential benefits for our members, such as lower fees and improved services that TelstraSuper and Aware Super are claiming as a result of increased scale. However, our priority remains ensuring that members’ retirement savings, entitlements, and service standards are protected and maintained during and after the transition.
Binding Merger Agreement – the Latest
TelstraSuper and Aware Super have now entered into a binding Heads of Agreement to merge, with the transition expected to be completed via a Successor Fund Transfer (SFT) by the end of the 2025/26 financial year. Until then, both funds will continue to operate independently, and no action is required from members at this stage.
Once completed, the merged fund will manage over $235 billion in retirement savings on behalf of more than 1.3 million members, making it one of the largest profit-to-member superannuation funds in the country.
What This Means for Members
The merger is being promoted by both funds as an opportunity to deliver:
- Lower fees for TelstraSuper members through Aware Super’s larger scale;
- Continued strong investment performance;
- Enhanced digital tools and personalised support; and
- A broader national service network.
The increased scale is claimed to support further investment in Australian-based services, digital platforms, and access to premium investment opportunities.
CWU’s Role and Ongoing Oversight
The CWU will continue to monitor the merger closely through the member representative Directors on the TelstraSuper Board. We will:
- Advocate for transparency and accountability throughout the process.
- Ensure that members’ voices are heard and their interests prioritised.
- Seek assurances that service quality, retirement outcomes, and member protections are not compromised.
We are also engaging directly with TelstraSuper to ensure that the unique needs of Telstra CWU members, both current and retired, are respected and upheld.
Governance and Representation
Post-merger, Aware Super will retain a governance structure with equal employer and member representation, chaired by an independent director. The Board will expand to include two new directors: one nominated by the ACTU and one by Telstra.
Stay Informed
Members can stay up to date via the TelstraSuper Merger Hub at www.telstrasuper.com.au/merger , which includes FAQs and detailed information for TelstraSuper members.
The CWU will continue to engage with both TelstraSuper and Aware Super – both industrially and through the direct involvement of National President Dahlia Khatab and National Assistant Secretary James Perkins, who currently serve as member representative Directors on the TelstraSuper Board.
Through these roles, we are committed to ensuring that the merger process continues to deliver the best possible outcomes for our members, both now and into your retirements.
We will continue to keep members up to date as the process continues.
In the meantime, should you require any further information, please contact Branch Officials Cade Anderson, Lisa Bahls, Peter O’Connell, Brett O’Neill, Clinton Thomas or Branch Assistant Secretaries Cameron Bird, Peter Chaloner, Barry McVee or Nick Towsend on (02) 9893 7822 when calling from NSW or the ACT, (07) 3255 0440 from QLD, (08) 9227 9911 from WA or (08) 8443 7389 from SA or the NT.
