The two super funds have completed the merger that was agreed upon in September 2017, as reported by InvestorDaily, according to a statement.
The new merger will offer “a number of enhancements” to current and new members, and will see Concept One members have access to more services, lower advice and additional investment options, the statement said.
WA Super chief executive Fabian Ross said he joined WA Super to grow the business and help members achieve their retirement goals.
“I’m immensely proud that WA Super has forged ahead with this merger and can now add this achievement to our list of successful accomplishments, ultimately for the benefit of all members,” he said.
“With mergers come opportunities for growth. By focusing on what’s important to our members, we will soon be able to offer access to convenient low-cost digital financial advice services.”
Members would be able to more easily “come to grips” with their super and be more proactive in adding to their retirement funds, Mr Ross added.
“There’s simply no better time than right now to start paying more attention to your super, and we want to make this easy for all members.”
WA Super chairman Tim Shanahan added that the merger was a “significant step” for fund members as well as for the state of western Australia.
“Western Australian workers and businesses will continue to have access to a locally based, member-focused super fund.
“WA Super is local, but we think global, and are passionate about helping our members plan for the long-term.”