Why do super funds merge?
The principal reason for fund mergers is the cost benefit of scale, which should pass through to members. The evidence suggesting that members do benefit from scale is quite robust and consistent.
What did Tasplan change to?
Spirit Super
On 1 April 2021, MTAA Super and Tasplan merged to become Spirit Super.
What type of super fund is Tasplan?
multi-industry non-profit superannuation fund
Tasplan Superannuation Fund is a multi-industry non-profit superannuation fund, deriving revenue from investments for the benefit and retirement of employees in all occupations. The fund has more than 126,000 members with over $10.5 billion in assets invested.
Does Tasplan exist?
Super funds MTAA Super and Tasplan officially merged today to become Australia’s newest Industry Super Fund — Spirit Super. Spirit Super has over 326,000 members across Australia and more than $23 billion funds under management.
What happens when funds merge?
The bottom line: When one of your funds is merged into another, it’s like buying a whole new fund, only someone else made the decision. Namely, the boards of both funds, and often the shareholders of the acquired fund, who rarely vote such deals down.
Can a super fund collapse?
Now, we can never say never in the investment world, however it is highly unlikely that your entire super fund can “collapse”, especially if it is properly diversified (you’ve already mentioned you hold shares, property and fixed interest) – meaning your money is spread between different investments.
Is Spirit Super the same as Tasplan?
Welcome to Spirit Super On 1 April 2021, MTAA Super and Tasplan merged to become Spirit Super. Here’s how your account may have changed.
Who owns Tasplan super?
On 1 April 2021, MTAA Super and Tasplan merged to become Spirit Super.
Is Tasplan an APRA fund?
Tasplan Superannuation Fund ABN Number: The RSE number, otherwise referred to as a Registerable Superannuation Entity Number, are issued to a superannuation to denote they’re registered with the Australian Prudential Regulation Authority (APRA).
What happens to my super if the stock market crashes?
Don’t panic The first thing to do is remain calm. Super is like any other investment – they’re all tied to a market, whether it’s stocks, property or bonds. Understand that markets are cyclical – meaning they go down, but they also go up. Any changes in those markets will affect your investment.
Why is Super going backwards?
If you’ve checked your super balance recently, chances are it’s lower than it was at the start of the year. That’s because the value of the major share markets has fallen this year, due to investor concern about the impact of COVID-19 on the world’s economies.
What are the different types of merger?
There are five commonly-referred to types of business combinations known as mergers: conglomerate merger, horizontal merger, market extension merger, vertical merger and product extension merger.
Do stocks generally go up after a merger?
When one company acquires another, the stock price of the acquiring company tends to dip temporarily, while the stock price of the target company tends to spike. The acquiring company’s share price drops because it often pays a premium for the target company, or incurs debt to finance the acquisition.
What does MTAA Super and tasplan’s merger mean for You?
MTAA Super and Tasplan will take on a new name on April 1, as their $23 billion merger completes. The combined fund will be called Spirit Super and have 326,000 members and lower administration fees.
Is tasplan the biggest super fund in Tasmania?
Tasmania’s biggest superannuation fund is about to get much bigger. Tasplan, which has more than 130,000 members and more than $10 billion in funds under management, has agreed to merge with industry fund MTAA Super on October 1 next year.
How big is the MTAA-tasplan merger?
When the merger was announced last November, Tasplan had 130,000 members and $10 billion under management. MTAA Super had 203,00 members and $12.8 billion under management. As an aside, the entire population of Tasmania is less than 500,000.
Who is the new CEO of tasplan Super?
Wayne Davy, current CEO of Tasplan Super, will continue in that role until merger completion date, working closely with Ms Turner to ensure a smooth transition. Ms Turner and Mr Davy said their focus will now be on making sure the transition is as smooth as possible for members and employers.