Why are Aware Super and Prime Super exploring a potential fund transfer?

Aware Super and Prime Super signed a non-binding agreement to explore a successor fund transfer to build operational scale and improve long-term retirement outcomes. The funds stated that combining operations could enhance investment capabilities and expand retirement services for members.

What is the combined asset size for Aware Super and Prime Super?

The proposed transfer between Aware Super and Prime Super would create a combined fund managing approximately $254 billion in assets. The combined profit-to-member superannuation fund would serve more than 1.4 million members across Australia.

How will the proposed transfer affect members of Aware Super and Prime Super?

During the due diligence process, Aware Super and Prime Super will continue to operate independently with no disruption to members or employers. Both funds indicated that any final transfer depends on confirming that the deal serves the best financial interests of their members.

What is the targeted timeline for the Aware Super and Prime Super transfer?

Aware Super and Prime Super target completing the proposed successor fund transfer by late 2027. The transaction remains subject to detailed due diligence and regulatory reviews.

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Aware Super explores $254B Prime Super deal

Written by Mahathir BayenaPublished Aug 4, 2026, 5:45 AM

Prime Super and Aware Super signed an agreement to explore a potential fund transfer by late 2027.
The proposed transfer would combine $254 billion in assets and serve over 1.4 million members.
Both funds aim to build operational scale and improve long-term retirement outcomes for their members.

Aware Super and Prime Super signed an agreement to explore a merger, creating a $254 billion fund.

The proposed transfer would unite more than 1.4 million members across Australia under a single profit-to-member superannuation fund.

"Through shared values, enhanced investment capability and a broader range of retirement solutions, we believe this potential partnership could support stronger long-term outcomes for members of both funds," said Aware Super Chair Christine McLoughlin.

The transaction is targeted for completion by late 2027 as both funds undertake due diligence while continuing independent operations.

Aware Super previously expanded its platform by completing a successor fund transfer with Telstra Super in April.

The fund stated that the potential partnership aligns with its strategy to build scale through industry consolidation.