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The signing of a Memorandum of Understanding that allows us to have discussions with Aware Super about a possible merger.

We will now both undertake a due diligence process to ensure a merger is in the best interests of our respective members.

At this stage, neither fund has made any formal commitment and there is no obligation on either party to proceed. The priority of both funds is to act in the best interests of their members.

Be assured that while discussions are underway, we will continue to provide the same quality service and advice you’ve come to expect of VISSF.

The superannuation industry is experiencing increased levels of regulatory reform and rising costs associated with the implementation of legislative changes and this trend is expected to continue.

In this environment, size and scale matter as they allow access to a more diverse pool of global investments, a broader range of services and lower investment and administration fees, which we expect will ultimately deliver a better outcome for our members and employers.

We have conducted an extensive analysis of peer superannuation funds to explore whether our members’ needs and interests would be better served if we were to merge with a larger fund with a similar cultural emphasis. This resulted in the identification of Aware Super as a potential merger partner.

We have just signed a Memorandum of Understanding and will now commence due diligence with Aware Super, where we will explore the benefits of a merger for our respective members. This process will happen over several weeks and we will keep you updated as things progress.

A merger will only happen if both funds can demonstrate that it is in the respective members’ best interests.

The benefits will become apparent when the due diligence is completed. Preliminary discussions indicate that our members and employers could benefit in a number of ways, including:

1. Being part of one of the largest industry super funds in Australia that can provide enhanced services and offer valuable member benefits. 
2. With offices in Melbourne and regional Victoria, members and employers can draw on Aware Super’s services and local face-to-face support.
3. A well-designed financial education program, that includes hosting hundreds of seminars and webinars each year in the workplace and community-based locations.
4. Access to Australia’s largest member-owned financial advice network, with extensive advice options for members, including specialist aged care and estate planning services.
5. Leveraging increased economies of scale to progressively lower fees and provide access to a more diverse pool of global investment opportunities.

No, you don’t have to do anything. We have not yet agreed to merge, we have just signed an MoU to explore the benefits of a merger. In the meantime, we will continue to provide the same quality service and advice you’ve come to expect of VISSF.

The past 12 months has seen unprecedented merger activity across the super industry. We have witnessed increasing levels of regulatory reform and rising costs associated with the implementation of legislative changes. This trend is expected to continue and is driving industry consolidation.

In this environment, size and scale matter as they allow access to a more diverse pool of global investments, a broader range of services and lower investment and administration fees, which we expect will ultimately deliver a better outcome to our members and employers.

With this in mind, we want to act in our members’ best interests and be proactive by considering how we can achieve the benefits that size and scale can bring.

It simply means we have signed a document that allows us to have discussions in confidence with Aware Super. There is no obligation on either party to proceed and the priority of both funds is to ensure that a merger would be in the best interests of their respective members. Regardless of the outcome, you and our members will remain our priority.

No, this is a merger. We have entered into this conversation as partners, each representing our members best interests.

VISSF and Aware have long histories in providing superannuation services, strong values and cultural alignment, as well as similar member demographics, which are indicative of a potentially successful merger. We both have a shared belief in the value advice plays in delivering better retirement outcomes and importantly, an absolute commitment to putting our members' interests first.

Aware Super is one of Australia’s leading industry funds. They provide superannuation, advice and retirement solutions to those who educate, nurse, care, respond and support others in our communities.

VISSF and Aware Super have important fundamentals of a successful merger, with both having extensive histories in superannuation, strong values and cultural alignment, as well as a similar member demographic.

Nothing will change at this stage. If the merger proceeds, we will give you more information on what it means for your super balance, investment options and insurance cover.

Aware Super provides strong, consistent long-term returns and has a commitment to lower fees. And members will have access to a broader range of investment options if the merger proceeds. We will know more once the due diligence phase is complete.

Our Client Services Team is available on 1300 660 027 between 9am and 5pm weekdays.

Should the merger proceed, Aware Super has offices across Melbourne and regional Victoria, so all members will be able to draw upon local face-to-face services, telephone-based or digital and online support.

We are still only in the due diligence stage. Any announcements regarding future brand will be made should the funds agree to merge.

Yes. Nothing changes right now. We will continue to provide the same quality service and advice you’ve come to expect of VISSF while discussions and due diligence are happening.

Progress updates regarding our merger discussions will be provided in due course. In the meantime, we have shared some quick links should you require further information, including more about Aware Super and the potential benefits to members.

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