Superannuation

With more than $3 trillion of assets, Australia’s superannuation industry is critical to the future of the Australian economy and all Australians.

We understand the regulatory landscape in which superannuation trustees operate.  Our practice is about helping trustees to perform their duties and exercise their powers in the best financial interests of members, including in relation to investments, successor fund transfers, M&A transactions and litigation.

    Our Approach

    Gilbert + Tobin’s team includes specialists in superannuation, funds management, financial services regulation, litigation and M&A transactions.

    We have acted on a number of the most significant transactions affecting the superannuation industry.  We have strong experience in financial services regulatory engagement, and obtaining Treasurer, FIRB, APRA, ACCC and ASIC approvals for regulated financial services institution acquisitions.  We also have a proven track record of acting for superannuation trustees making important investments. 

    Our superannuation lawyers can advise regarding defined benefits, superannuation guarantee, portfolio holdings disclosure, the Superannuation Industry (Supervision) Act 1993 (SIS Act) and regulations, including the section 56 amendment, Your Future Your Super (YFYS) reforms, best financial interests and annual performance assessment, the Financial Accountability Regime (FAR), the retirement incomes covenant, internal dispute resolution (IDR), anti-hawking, design and distribution obligations (DDO) and insurance in super. 

    • [G+T matter] IOOF on the $975 million acquisition of ANZ’s One Path Pensions and Investments and aligned dealer groups businesses and related capital raising and on the acquisition of Wealth Central as part of IOOF's "Advice 2.0 transformation strategy".
    • [G+T matter] KKR on the proposed acquisition of a 55% interest in Colonial First State (CFS) and establishment of a joint venture with Commonwealth Bank of Australia, with the transaction valuing CFS at $3.4 billion.
    • [G+T matter] Aon in relation to Australian aspects of the US$30 billion merger with Willis, Towers Watson.
    • [G+T matter] Aware Super, Macquarie Infrastructure and Real Assets and its managed funds (“MIRA”) on the consortium’s $3.5 billion acquisition of Vocus Group Limited by scheme of arrangement.
    • [G+T matter] PowAR consortium (QIC, Future Fund, AGL) on its $3 billion acquisition of Tilt Renewables by scheme of arrangement.
    • [G+T matter] BGH consortium (including BGH Capital, AustralianSuper and Rod Jones) on the $2.1 billion acquisition of Navitas by scheme of arrangement, the largest take private by an Australian PE fund.
    • [G+T matter] IFM Investors on numerous acquisitions/investments including Zuuse; My Plan Manager; Collette; ISGM; and Endeavour Learning Group.
    • Acted for Qantas Superannuation on numerous matters including investments, regulatory matters and restructures.
    • NGS Super regarding various investments in Australia and overseas.*
    • A superannuation provider in relation to an ASIC investigation into their superannuation products.
    • BT Financial Management and Westpac Life Insurance Services in relation to a class action concerning their superannuation cash product.
    • Amcor Limited in relation to various issues relating to its self-managed superannuation fund with a value in excess of $1.5 billion.
    • Major outsourcing, custodial and administrating arrangements for numerous super funds, fund managers and institutional investors including Hub24, Qantas Super, Rest, Perpetual and First State Super (now Aware Super).
    • Investment management arrangements in relation to co-investment and fund investment work for HESTA, Aware Super, Sunsuper, AustralianSuper, Testra Super, Commonwealth Superannuation Corporation, Statewide Super, Rest Super and HostPlus.
    • Aware Super on its build to rent developments throughout Australia. 
    • REST Super on its $500 million investment management arrangement with QIC.
    • MTAA Super (now Spirit Super) in relation to its investment in the South Australian Life Sciences Partnership, including the restructure of that partnership.
    • Aware Super on the implementation of its wealth platform with DST BlueDoor.