Catholic super merger plan
The leading Catholic superannuation funds in Queensland and NSW are planning to merge.
The Catholic Leader reports that the Queensland Roman Catholic Retirement Plan and the Catholic Schools Superannuation Fund in NSW/ACT will form what has been provisionally named the Catholic Superannuation and Retirement Fund.
With 55,000 members and $1.4 billion in assets, it would be one of the largest funds in Australia.
The Queensland fund's chairman Pat Corby told the Leader that superannuation is becoming more complicated and more competitive.
"Church funds need size to reap the economies of scale which will enable them to lift their expertise and provide better levels of service while keeping costs down," Mr Corby said.