Super funds MTAA Super and Tasplan have announced they will be known as Spirit Super after completion of their merger on 1st April, 2021.

Spirit Super will have approximately $23 billion funds under management and approximately 326,000 members across Australia.

MTAA Super was founded in 1989 to serve those in the automotive trades and allied industries. Tasplan has its foundation in Tasmania but is a nationwide superfund.

MTAA Super CEO Leeanne Turner said the new name perfectly represents the fund’s drive to be a national super fund that offers superior service, value, and member focus.

“What I love about Spirit Super is it captures the energy of what we’re about,” said Turner. “It’s fresh and optimistic and innovative — everything we want to be.”

“The new name also speaks to the past achievements of our funds,” she said. “MTAA Super and Tasplan are both outstanding funds and take great pride in providing historically strong long-term returns, excellent value and service to our members. As Spirit Super, we will have greater capacity to continue improving our products and service and to really embrace a member-first approach to everything we do.”

The merger follows a successful year for MTAA Super and Tasplan, with both funds receiving Platinum ratings by SuperRatings and being named ‘Best Value for Money’ funds for 2020.

“That’s what makes this merger so exciting,” said Turner. “This isn’t about a big fund absorbing a smaller fund. It’s about two successful funds coming together to get even better. It’s a true partnership that will provide a better super experience and outcomes to members across the nation.”

“With MTAA Super’s strong long-term performance history and Tasplan’s superior customer satisfaction rating and award-winning digital services, we are bringing the best of both worlds to Spirit Super.”

There will be a reduction in administration fees for all Spirit Super members.

“The details are being worked through, but there will be a drop in administration fees when Spirit Super kicks off,” said Turner. “So right off the bat, members will start seeing the benefits of the merger.”

Source: Motor Trader e-Magazine (February 2021) 

24 February 2021