Employer update    

In November 2024, the Board of Catholic Super and Equip Super (Togethr Trustees) and the Board of TelstraSuper signed a binding Heads of Agreement to proceed with a ‘merger of equals’ between the two funds. At that time, the two funds had agreed a pathway to undertake a merger that was thought to be in the best financial interests of members of both funds. We had determined that a merger with TelstraSuper could increase the scale we have built through previous mergers and deliver further benefits to our members. 

TelstraSuper has now taken the decision to terminate the binding Heads of Agreement.

Togethr Trustees is the Trustee overseeing Equip Super and Catholic Super. It was formed in 2019 when Equip Super and Catholic Super undertook a joint venture prior to merging.

Equip Super is a super fund that is managed, along with Catholic Super, by Togethr Trustees. Equip Super has its heritage in corporate super and undertook a joint venture with Catholic Super in 2019, prior to merging with them.

No. Catholic Super will continue to operate as usual, with no change for you or your people. There will be no impact on day-to-day operations, with no changes to your account or the services we offer.

While we’re disappointed with TelstraSuper’s decision, Catholic Super is in the strong position of already being a fund of scale, having grown rapidly over the past decade through a series of mergers including with the Rio Tinto, Toyota and BOC Gases corporate funds. The benefits to our members are clear – we have been able to reduce administration fees three times in the past five years from 25 bps to 19 bps. 

Our focus has always been on delivering the best possible retirement outcomes to members, through strong performance, competitive fees and excellent service, and this is where our focus remains now. Given our strong financial position, the Board will now explore the option of providing a further fee reduction to members.

On 21 May 2025, we made a public announcement advising that the merger with TelstraSuper would not proceed.

Previously, we made a public announcement in December 2024 advising that we had signed a binding Heads of Agreement, agreeing to proceed with a ‘merger of equals’ with TelstraSuper. This announcement included emailing members, employers and other key stakeholders. 

Prior to that, we made a public announcement in September 2024 regarding our intention to explore a merger of equals with TelstraSuper. This announcement included emailing all members, employers and other key stakeholders. 

We are committed to communicating transparently with you and your people, and other key stakeholders, when there are major updates regarding your superannuation fund.

If you have any questions about this announcement, or any other aspect of your Catholic Super membership, please contact us or your Employer Relationship Manager directly.