LGIAsuper and Energy Super have merged

Energy Super and LGIAsuper logos

Published 1 July 2021

LGIAsuper and Energy Super completed their merger today (1 July 2021).

The merger has created a strong Queensland-based superannuation fund of around $24 billion, managed on behalf of approximately 123,000 members*.

Over time, we expect that our increased size and scale will enable us to deliver better services and lower costs for all our members. It should also give us access to a wider range of investment opportunities.

The merger has created a single fund, which is now managed by the LGIAsuper Trustee. The Energy Super and LGIAsuper brands will continue to operate for the time being, with contact centres, workplace visits, access to advice and great personal service remaining the same.

CEO Kate Farrar talks about the opportunities ahead for our newly merged fund

Expected benefits for members

We expect that the merger will create the following potential benefits for members:

  • Increased range of investment opportunities.
  • Strong and sustainable long-term returns.
  • Lower investment and administration fees.
  • Access to enhanced products and services.
  • Greater access and presence in regional areas.

Our merger will also strengthen our internal teams and service delivery model to provide increased support, education and advice.

Combined leadership

A new LGIAsuper Board and Executive team have been created to run the newly merged fund and are now in place. These teams consist of a mix of both LGIAsuper and Energy Super personnel.

Kate Farrar, LGIAsuper's Chief Executive Officer, was appointed by the Boards of both funds to continue as CEO and lead the newly merged fund from 1 July 2021.

Merging similar values and strengths

The merger has brought two very similar and like-minded funds together to provide more benefits for members.

Both LGIAsuper and Energy Super have a long and successful history as profit-for-members funds, with a strong member-focus, and a commitment to the local government, energy, and electrical industries. Both funds are open funds, welcoming members from many different industries and sectors.

LGIAsuper will continue as a medium-sized boutique fund with a strong member focus. Increasing our size and scale can help us deliver more benefits to members, while still providing a personalised service.

Further information

If you would like more information about the merger, please refer to our frequently asked questions.

We’re here to help. If you have any questions about the merger or would like to discuss your superannuation, please call us on 1800 444 396.

 

* Combined figures from both funds, as at 1 July 2021.