With a future update, it will be easier to accomplish this task. But in the meantime, please follow these steps:
- Go to Contacts Sync > Contacts > Groups, and select the destination group
- Press "+", and select "Add Existing Contacts". You should now be on the "Add Contacts" screen.
- Next, you can optionally remove all existing group members by pressing the "None" button at the the bottom. Then press "Save"
- Next, press the group filter button at the bottom (the button that looks like a group of people). Then select the source group. Then press "Save"
- Press "All" to add all of the contacts in the source group to the destination group. Then press "Save"
This help article relates to the iPhone app called "Contacts Sync" which can be downloaded here:
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