Documents and FAQs

A Successor Fund Transfer is a process for transferring members and their benefits from one super fund to another, without the members’ consent. The trustees of both funds must agree that the transfer will result in equivalent rights in respect of benefits for all trabsfering members and is in members’ best financial interests.

Through this transfer, your GS&JBW Fund account will be transferred in full directly to Mercer Super. A new account, with a new account number, will be created for you.

Mercer Super was selected against an extensive set of criteria including competitive fees^†† and a history of competitive returns^†, a wide range of investment options, and comprehensive member engagement tools, including limited financial advice at no additional cost and guidance and support to help you make informed decisions¹.

^{Past performance is not a reliable indicator of future performance. The value of an investment in the Mercer Super Trust may rise and fall from time to time. The investment performance, earnings or return of capital invested are not guaranteed.}

^{† Mercer Super’s default investment option Mercer SmartPath®, has delivered on average 8.1% p.a. over 10 years for one of our largest groups of members, outperforming the comparative industry median of 7.2% p.a. Based on Mercer SmartPath membership data as at 31 December 2024 and for members invested for the full period. Mercer Super Trust’s analysis of Mercer SmartPath (born 1974-1978), one of the largest cohorts, after investment fees and tax, compared to the median of all default funds reported in SuperRatings Fund Crediting Rate Survey – Default Options as at 31 December. Past performance is not a reliable indicator of future performance. The value of an investment in the Mercer Super Trust may rise and fall from time to time. The investment performance, earnings or return of capital invested are not guaranteed.}

^{†† Chant West MySuper Default Fee Tables December 2024 – for $50,000 and $100,000 account balances. Fees are for Mercer SmartSuper - SmartPath® (our MySuper product) as at 31 December 2024 for total administration fees and costs. Chant West uses our 1964-1968 investment option for purposes of comparison with other MySuper funds. You may pay less than this if you are in an employer plan with discounted fees. For more details on fees for each of our SmartPath options, or if you’ve chosen your own investment option/s, go to the ‘How Your Super Works' guide online. Fees and costs can vary from year to year. Past fees and costs are not a reliable indicator of future fees and costs. Fees and comparisons may differ for other investment options and account balances.}

^{1 Mercer Financial Advisers are authorised representatives of Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293, AFSL No. 411766. Mercer Superannuation (Australia) Limited (MSAL) ABN 79 004 717 533 has appointed MFAAPL to provide financial advice services for members of the Mercer Super Trust. In addition, you can get one-off or on-going financial advice for other aspects of your financial situation through MFAAPL, which is a fee-based service.}

No. There is nothing you need to do to initiate the transfer, which will occur automatically for current members of the GS&JBW Fund on or around Saturday 31 May 2025. However, there are some actions regarding investment choice you may wish to consider (see the ‘Investing your super’ section of the information hub). You will receive a Significant Event Notice (SEN) from BEST Superannuation Pty Ltd (the trustee of the GS&JBW Fund) at least 30 days prior to the transfer date. You will also receive a Transfer Guide from Mercer Super, which will outline key information about the transfer and where to find further information

If you are an accumulation member and do not want your account balance to transfer to Mercer Super you will need to provide written instructions, via a Choice of Superannuation Fund form to change where your future contributions are paid and a Portability transfer instruction form to move your benefit out of the GS&JBW Fund.

You can request a Choice of Superannuation Fund form from your employer. The Choice of Superannuation Fund form will need to be provided to your payroll department before Thursday 1 May 2025 for Goldman Sachs employees and Wednesday 28 May 2025 for JBWere employees to ensure that they can arrange the June contribution to be paid to a different fund.

The Portability transfer instruction form can be found on the GS&JBW Fund website. This form needs to be completed and sent to the address at the bottom of the form so that it is received no later than 5pm Friday 23 May 2025 (AEST).

If you are a spouse, retained or pension member and don’t want your account balance to transfer to Mercer Super you will need to provide written instructions, via a benefit portability form to move your benefit out of the GS&JBW Fund. The benefit portability form can be found on the GS&JBW Fund website.

This form needs to be completed and sent to the address at the bottom of the form so that it is received no later than 5pm Tuesday 20 May 2025 (AEST) for pension members and 5pm Friday 23 May 2025 (AEST) for spouse and retained members.

Your existing Mercer Super account will remain open. You can transfer your account to the Goldmans Sachs Superannuation Plan within Mercer Super at any time from Wednesday 18 June 2025, if you wish. If you also have a GS&JBW Fund account, it will still transfer across to Mercer Super and a new account will be created within the Goldman Sachs Superannuation Plan. Similarly, you will be able to combine these accounts to the Goldmans Sachs Superannuation Plan within Mercer Super at any time from Wednesday 18 June 2025 if you wish.

If you decide to combine your super accounts, carefully consider how this may have an impact on your existing insurance or any other benefits you may lose.

The transition is scheduled to take place on or around Saturday 31 May 2025. The transfer will occur automatically, and a new Goldman Sachs Superannuation Plan account for non-pension members and a Mercer SmartRetirement Income account for pension members will be set up for you within Mercer Super.

On Friday 2 May 2025, accumulation and retained members will be provided with access to an online form where you can provide consent for your account balance to be invested in the Mercer High Growth option rather than the Mercer SmartPath option. Consent must be provided between Friday 2 May and 5pm on Friday 16 May 2025 (AEST). Due to the Limited Service Period if you miss this deadline your benefit will be invested in the Mercer SmartPath option from Sunday 1 June 2025 and you can change the investment option from Wednesday 18 June 2025.

To ensure your account details are accurately transferred to Mercer Super on Sunday 1 June, there will be a Limited Service Period (LSP) where members have limited access to their account and most transactions will not be accepted. 

Some transaction requests will be processed during the LSP including:

• eligible early release due to financial hardship and compassionate grounds
• payments for family law purposes
• insurance claims
• commencing an allocated pension.

From Sunday 1 June 2025, you can call the Mercer Super helpline on 1800 682 525 for help with these transactions.

Your account balance will continue to be invested throughout the LSP.

For pension members, the LSP is scheduled to begin on Wednesday 21 May 2025. You will have access to your existing GS&JBW Fund account until 5pm Tuesday 20 May 2025 (AEST).

For all other members, the LSP is scheduled to begin on Monday 26 May 2025. You will have access to your GS&JBW Fund accounts until 5pm Friday 23 May 2025 (AEST).

Any transaction requests or changes you wish to make to your existing account must be received prior to these times.

The LSP is scheduled to finish on Tuesday 17 June 2025 for all members and normal transactions will resume in Mercer Super from Wednesday 18 June 2025.

You will get access to your Goldman Sachs Superannuation Plan and/or Mercer SmartRetirement Income account from 9am Wednesday 18 June 2025 (AEST). You can make changes to your account settings, investment options or for benefit payments from that date.

You’ll need to make your contribution to your new GSSP account by 4pm (AEST) on Thursday, 26 June. Learn more here

Last Superannuation Guarantee contributions will be submitted by your employer in May as per usual timeframes. You can make personal contributions to your GS&JBW Fund super account until 5pm Friday 23 May 2025 (AEST).

First Superannuation Guarantee contributions will be submitted by your employer in June as per usual timeframes. You can make personal contributions to your new Goldman Sachs Superannuation Plan account within Mercer Super from 9am Wednesday 18 June 2025 (AEST).

Yes. All members of the Goldman Sachs Superannuation Plan (GSS Plan) with Mercer Super can elect to have employer contributions paid to their new account from 1 June 2025. Retained and Spouse members will need to complete a Choice form and provide it to their employer.

The USI number for the GSS Plan is 19905422981712.

Mercer Super members can choose from a wide range of investment options, each with its own set of objectives and mix of asset classes.

These include 'ready-made' diversified and 'select-your-own' options.

Available investment options will be outlined in a Transfer Guide provided to you as part of the transition communications. Pension members can access their investment booklet now at the Mercer Super website. For all other members, full details will be available in your investment booklet in late May 2025.

Mercer Super members have access to limited personal advice about their super, over the phone or via digital advice at no additional cost. This includes guidance about the most appropriate investment option choice within the fund.¹

_{1 "Mercer Financial Advisers are authorised representatives of Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293, AFSL No. 411766. Mercer Superannuation (Australia) Limited (MSAL) ABN 79 004 717 533 has appointed MFAAPL to provide financial advice services for members of the Mercer Super Trust. In addition, you can get one-off or on-going financial advice for other aspects of your financial situation through MFAAPL, which is a fee-based service.}

The trustee has appointed Mercer Investments (Australia) Limited (ABN 66 008 612 397, AFSL 244385) (MIAL) as an implemented consultant for Mercer Super.

This means that for the Mercer Managed Investment Options, MIAL as implemented consultant chooses and monitors the investment managers and decides how to allocate across the different asset classes, which may be growth or defensive oriented, or a mix of both.

MIAL leverages a global research network to seek to establish a combination of specialist managers for each asset class, selecting managers for their strength in idea generation, portfolio construction, implementation and business management.

If you have insurance cover in the GS&JBW Fund, following the transfer to Mercer Super your overall insurance premiums will be lower. Some minor terms and conditions will be changed (including a reduced waiting period in the definition for Total and Permanent Disablement and removing time limits on overseas cover). Otherwise, you will continue to have the same types and amount of insurance cover.

Mercer Super will provide further information on your insurance arrangements in your Transfer Guide.

If you have made an insurance claim before the transfer date, it will not be affected. You can contact GS&JBW until Friday 30 May 2025 if you have questions about an existing claim. After the transfer, Mercer Super will contact you and provide you with a new contact person who will look after your claim going forward.

During the transfer you can still claim on your insurance cover. If you need to make a claim up to 5pm Friday 30 May 2025 (AEST), please contact GS&JBW Super on 1800 025 026. If you need to make a claim after that time, please call Mercer Super from Monday 2 June 2025 on 1800 682 525 for assistance.

Generally, fees will be lower with Mercer Super. The cost of your administration and investment fees will depend on the investment option(s) you choose as well as your account balance. More detailed information about fees and costs that apply in Mercer Super will be available in your Transfer Guide and in the PDS.

No. Any valid beneficiary nominations you have made will transfer across to Mercer Super. These include binding lapsing and non-binding death benefit nominations, as well as reversionary pension nominations.

Any changes to existing pension accounts must be received by 5pm Tuesday 20 May 2025 (AEST). Changes to all other accounts must be completed by 5pm Friday 23 May 2025 (AEST).

No. Third party authorities are specific to the current fund and will not carry across to Mercer Super. If you have provided a third-party authority form to allow your financial adviser to access your GS&JBW Fund account information, you will need to provide a new third party authority form to Mercer Super after the transfer. This form will be available on the documents page of the information hub (see Communicating With Me section of the FAQ), and from the Mercer Super website.

It is important to ensure your current contact details (including your home and email address) are up-to-date, so you receive all communications about the transition. We also recommend you ensure your nominated beneficiary details are up-to-date.

To manage your GS&JBW Fund account and make updates to your personal information, preferences and beneficiaries please contact the GS&JBW Fund Helpline directly on 1800 025 026.

Any changes to existing pension accounts must be received by 5pm Tuesday 20 May 2025 (AEST). Changes to all other accounts must be completed by 5pm Friday 23 May 2025 (AEST).

Three years of Annual Member Statements will be linked to your new Mercer Super account following the transfer and these will be accessible via your online account. If you would like to retain older statements, you will need to download them from your GS&JBW Fund account before the LSP begins.

From BEST Superannuation Pty Ltd (the Trustee of the GS&JBW Fund)

• Investment consent: Relevant members will be notified when the investment consent form becomes available on Friday 2 May 2025.
• Significant Event Notice: You will receive a Significant Event Notice at least 30 days prior to the transition on Sunday 1 June 2025.
• Exit Statement: Best Super is also required to send you an exit statement confirming your closing super or pension account balance with the GS&JBW Fund. This will be sent shortly after your account has been closed.

From Mercer Super

• Transfer Guide: Mercer Super will send you a Transfer Guide with details of your new plan and upcoming transition.
• Product Disclosure Statement: Pension members can access their PDS documents now from the Mercer Super website. For all other members, these will be available on the information hub in late May 2025. Following the Limited Service Period (LSP), a copy will also be available by logging into your account at mercersuper.com.au.
• Welcome Letter: Once your account has been set up with Mercer Super, you’ll receive a Welcome Letter. This will confirm that your membership has been transferred to Mercer Super and will contain your new super account details.

Where we have received your email address, you should receive your welcome letter on or around Wednesday 18 June 2025, following the LSP. Otherwise, receipt will depend on Australia Post.