The Government welcomes today’s announcement that Tasplan and Quadrant have officially merged.
It is important that Tasmania has a local superannuation fund that is growing in scale, improving services, growing employment opportunities in the sector and investing locally.
This new super fund will manage over $3.3 billion in assets and cover around 100,000 members.
The new super fund now has a strong platform to pursue other opportunities, including the proposed merger with the RBF Accumulation Scheme which would lead to the development of a Tasmanian super fund that would manage around $7 billion in assets and cover around 165,000 members.
In July this year, I announced that the Government had entered into a MoU with RBF, Tasplan and Quadrant to begin due diligence on creating a single Tasmanian super fund, subject to any proposed new fund being in the best interests of the members and receiving the agreement of the respective boards.
The Government is continuing this work and if it is deemed to be in the best interests of members, legislation will be tabled in early 2016 to allow the merger to proceed.
Peter Gutwein, Treasurer
