Super mergers will cut member fees LGIAsuper chief executive Kate Farrar says superannuation fund mergers should deliver notable fee cuts to members.
Money by Joyce Moullakis
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Subscriber only LGIAsuper chief executive Kate Farrar says superannuation fund mergers should deliver notable fee cuts to members, and she expects the new average size for a boutique fund will swell to between $30bn and $50bn. Merger activity has been ripe in the $3 trillion superannuation sector, amid regulatory pressure on performance, fees and governance and a push for scale benefits. Brisbane-based LGIAsuper, which began looking after the retirement savings of Queensland s local government employees, is part of that merger trend. In a deal that will become effective on July 1, it has agreed to tie-up with Energy Super and create a $22bn fund.
Super mergers will cut member fees
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