NGS Super and Australian Catholic Super have announced plans to merge, creating a larger, stronger fund for all our members. Here you’ll find information and updates about the planned merger.
Why is NGS Super merging with Australian Catholic Super?
NGS Super and Australian Catholic Super are Australia’s two largest funds in independent schools, Catholic education and the community sector. The proposed merger is a great opportunity to combine the strengths of both funds.
NGS Super has $12 billion in account balances and 120,000 members — with Australian Catholic Super’s $9 billion and 85,000 members, we will create a truly national all-profit-to-members industry fund, with $21 billion under management and membership of over 200,000.
Who is Australian Catholic Super (ACS)?
Established in 1981, Australian Catholic Super has a strong history in serving the Catholic education and community services sectors, making it a like-minded fund. Like NGS Super, Australian Catholic Super is an industry fund with equal member and employer representation, with some crossover of membership in both NGS and ACS.
When will the merge happen?
We expect that it will be finalised late in 2021 or possibly early in 2022. It’s impossible to give an exact date yet as there are many operational details to be worked out before the merger can happen. We will keep all our members updated.
Will the new fund be a Catholic fund?
No, the new fund will not be a Catholic fund. It will have a new name that reflects the merged membership. The new Board will have an equal number of member and employer Directors who are nominated by key industry stakeholders, including the Association of Independent Schools, Catholic Church and the Independent Education Union. All Directors have a legal duty to act in the best interest of members, not the interests of any nominating body.
How can I find out more?
We will be updating these FAQs as more information becomes available. We will also write to all our members whenever we reach a significant milestone in the merger process.
Can I still call the NGS helpline for queries or assistance?
Yes, our helpline will continue to operate as normal until the merger is finalised, at which time we will share details of our new helpline/contact centre.
What does it mean for you as a member?
This merger will help us to secure the financial futures of all our members, by bringing together the best of both funds, providing enhanced personalised member servicing and the wider investment opportunities that come with more diverse assets under management.
If you have any questions or concerns, please call our helpline on 1300 133 177, between 8am and 8pm (AEST/AEDT), Monday to Friday.
Can I still make changes to my account?
Yes, you can continue to access your account as normal via Member Online, until you hear otherwise from us.
What will happen to my insurance cover?
NGS Super and Australian Catholic Super currently have different insurance providers. When the provider for the new merged fund has been decided, we will provide you all the information you need to make sure you have the type and level of cover that suits you.
Will there be a change to investment options?
There may be some changes at the time of merge, but you will still be offered a wide range of investment options to suit your needs.
What does it mean for you as an employer?
We believe that this merger will help us to better support you and your staff, by bringing together the best of both funds. As a merged fund, we’ll offer enhanced personalised member servicing, delivered by an experienced team of Client Relationship Managers across the country and supported by experienced administration staff. The fund will also enjoy the wider investment opportunities that come with more diverse assets under management.
If you have any questions or concerns, please contact our helpline on 1300 133 177, between 9am and 5pm (AEST/AEDT), Monday to Friday.
Can I still contact the same Client Relationship Manager (CRM)?
Yes, your contact person is still the same.
Will the merged fund continue to have defined benefit sub-plans?
Yes, the merged fund will continue to administer NGS Super’s closed defined benefit sub-plans including Cuesuper, Catholic Church Staff Superannuation Plan (SA) and Penleigh and Essendon Grammar School Superannuation Plan.