fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Non Banking Funds

Australia Pension Funds Join Hands in a $155 Billion Merger

The merger is made in the best interest of the funds to add value to the Australian pension industry

The Global Economics by The Global Economics
March 15, 2021
in Funds, Mergers & Acquisitions, Top Stories
Reading Time: 1 min read
0
Australia Pension Funds Join Hands in a $155 Billion Merger

Australia Pension Funds Join Hands in a $155 Billion Merger

58
SHARES
2.1k
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

Australia-based pension funds- QSuper and Sunsuper Pty have joined hands in a merger with A$200 billion (155 billion USD) worth pension pot consolidate. 

In a joint statement, both the funds stated a merger in September that will pave way for a historic agreement and the subsequent creation of an unquestionably strong superannuation fund that will deliver outstanding services, affordability for members, and greater efficiencies.  

The merger is one of the testaments of growing together and stronger by big industry players and firms with industry consolidation, quite otherwise to the proposals of regulators and policy makers—who encourage mostly poor-performing and smaller funds to merge. 

QSuper is responsible for managing retirement savings for Queensland state government employees—with nearly A$120 billion in funds under administration. Sunsuper manages around A$80 billion in savings for corporate employees, like Virgin Australia and Unilever Plc.

In efforts to bolster returns and weather increasing pressure to cut fees, the Australian pension industry worth A$3 trillion is coming together against all odds. 

On Monday, the Queensland state government gave its support to the merger on a condition that the chief executive and the combined fund are based in Brisbane.

Tags: QSuperQueenslandSunsuper PtyUnilever PlcVirgin Australia
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

Related Posts

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit
Ultility

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

by Riya Thomas
February 1, 2023
Adani Group shares plunged, resulting in the erasure of $72 billion after three-day selloffs
Funds

72 Billion Wiped Out: Adani Group Shares Plunge After Three-Day Selloffs

by Riya Thomas
January 30, 2023
Baidu, the Chinese search giant all set to launch a ChatGPT-style bot in March 2023
Technology

Baidu, the Chinese search giant all set to launch a ChatGPT-style bot in March 2023

by Riya Thomas
January 30, 2023
Microsoft Outage
Technology

Microsoft Outage Impacts Businesses Across The Globe – Services Almost Restored

by Marifur Rahman
January 25, 2023
Microsoft’s quarterly profit declines to $16.4bn amidst layoffs and economic concerns
Technology

Microsoft’s quarterly profit declines to $16.4bn amidst layoffs and economic concerns

by Riya Thomas
January 25, 2023
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Lebanon currency devaluation

Lebanon to Devalue Its Currency By 90%

February 1, 2023
A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

February 1, 2023
China To Boost Oil Demand By Up To 500,000 BPD PC: Reuters

Oil Cools Off on a Weak Dollar

February 1, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, delivered right into your email inbox.

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version