This comes after a comprehensive due diligence process and the funds conducting an equivalent rights assessment. Both Boards are confident that the transfer is in members’ best financial interests. 

In a joint statement, Chair of CareSuper, Linda Scott and Chair of MIESF, Chris White said: 

“This announcement is an exciting milestone for both funds. We share a proud, member-first heritage and this Successor Fund Transfer aims to provide long-term, sustainable outcomes for all members now and into the future.” 

“Retirement confidence starts with confidence that your money is in the right place. After a comprehensive due diligence process, we believe that a shared future is in the best financial interests for members of both funds – a strong, capable fund that partners with them every step of the way and delivers real value and care.” 

The transfer will add a further 17,000 members and over $1 billion in funds under management at CareSuper, positioning the fund as a $60 billion fund with over 600,000 members once complete, which will position CareSuper as the 12th largest fund in the superannuation sector by members.^# 

Shortly off the back of the largest merger in the 2024 financial year for CareSuper, this continues to highlight the attractiveness of CareSuper’s strong value proposition: big enough to deliver strong long-term investment performance* whilst also maintaining award-winning^{^} member service delivered by an in-house administration team. 

“As we work towards 1 October, members can rest assured they will be kept informed of progress. For now, the funds will continue to operate independently without disruption to members.”  

All media inquiries for this announcement to David Imber, 0413 274 204 or [email protected] 

MIESF is a union-sponsored, profit-to-member, industry fund that has provided appropriately straightforward benefits for meat workers since 1981. As a $1 billion fund MIESF is proud to have achieved exceptional investment performance*, kept fees competitive and delivered a personal service offering to members. Find out more at miesf.com.au