Lutheran Super and Mercer Super announce merger 

Australia, August 23, 2022

Lutheran Super and Mercer Super have announced that the $700m-plus not-for-profit fund will merge into the Mercer Super Trust via a successor fund transfer.

This follows the recent announcement of BT Super merging into the Mercer Super Trust.

John Grocke, Chair of Lutheran Super, said the merger is in the best financial interests of its 5,700 members, including more than 300 pensioners.

“From the outset, we have sought a merger partner that could deliver the best retirement outcomes possible for our members,” Mr Grocke said.

“Following a rigorous process, we’re pleased to have chosen the Mercer Super Trust, where our members will access a wider range of services, options and personalised support to get the most out of their super or pension. Importantly, members will continue to benefit from our tailored balanced investment option as well as other characteristics of the existing plan.” 

“We’re proud of what we have achieved on behalf of our members over the years. We trust that our members’ best interests will continue to be well served as they join Mercer Super,” he said.

Tim Barber, CEO of Mercer Super, said the firm looked forward to continuing to serve Lutheran Super members.

“Mercer is proud of its long-term partnership with Lutheran Super having provided administration, investment management and consulting services for the fund over many years. We know well the commitment they have to helping their members enjoy a healthy retirement, and we look forward to welcoming them to Mercer Super,” Mr Barber said.

The successor fund transfer is expected to take place in quarter four, 2022.