Catherine Bolger announced as new AIST president

Catherine Bolger has been announced as the new president of the Australian Institute of Superannuation Trustees (AIST).

AIST CEO Eva Scheerlinck said the Board was delighted to appoint Ms Bolger, who has been a director of the organisation since 2016.

Ms Bolder is currently a director of SAS Trustee Corporation and director of Professionals Australia, and has served on a number of industry fund and related boards over the last 14 years.

“Catherine has many years of experience serving on superannuation boards and as a director of other not-for-profit organisations,” said Ms Scheerlinck. Read more...

Eva Scheerlinck appointed as new AIST CEO, after extensive search

Eva Scheerlinck has been appointed as the new CEO of the Australian Institute of Superannuation Trustees (AIST), effective immediately.

Ms Scheerlinck has been acting CEO of AIST since Tom Garcia left to take up a position with AustralianSuper.

Mr Garcia announced his resignation in December 2016, but left the organisation on March 10. The announcement by AIST says there was an “extensive search” for a new CEO.

“Ms Scheerlinck headed up AIST’s governance and stewardship department for the past six years, and most recently led the development of a new governance code (or code of practice) for AIST profit-to-member funds, which is set to take effect from July 1, this year. She has also been pivotal in driving industry-wide initiatives to improve outcomes for Indigenous Australians, having been the inaugural chair of the Indigenous Superannuation Working Group.” Read more...

AIST announces appointment of acting CEO

The board of Australian Institute of Superannuation Trustees (AIST) has announced the appointment of Eva Scheerlinck as acting CEO while the search for a permanent CEO continues.

Ms Scheerlinck, who has been AIST Executive Manager for Governance & Stewardship since 2010, will take up her new role when Tom Garcia, AIST’s current CEO, leaves on March 10 2017.

In December Mr Garcia announced he would be leaving AIST to take up the role of Head of Product for AustralianSuper.

The announcement by AIST said the appointment of Ms Scheerlinck “brings stability and leadership to AIST while the search for a new CEO continues”. Read more...

AIST CEO resigns, takes up role with AustralianSuper

The Australian Institute of Superannuation Trustees (AIST) has announced that its CEO, Tom Garcia, has resigned and will be taking up a new role with AustralianSuper.

Mr Garcia will start his new role as Head of Product for AustralianSuper in mid-March and will continue as CEO of AIST until then.

“I feel honoured to have been given the wonderful opportunity to lead AIST and work with the AIST board and staff. It is a fantastic organisation with many passionate and dedicated members and I look forward to seeing AIST grow from strength to strength in the future,” said Mr Garcia. Read more...

More regulation is the future of the superannuation industry

Superannuation industry, 2025, future, regulationRegulation will be a dominant factor in the future of the superannuation industry. This is a finding of the joint report by the Australian Institute of Superannuation Trustees (AIST) and BNP Paribas Securities Services: 2025: What will the superannuation industry look like in a decade?

40% of respondents said that regulatory change will be the single biggest risk to the superannuation industry in 2025.

AIST calls for review of lifting Age Pension age to 70

AIST, Intergenerational Report 2015 , Age Pension AgeFollowing release of the Intergenerational Report 2015 the Australian Institute of Superannuation Trustees (AIST) has called for the Government to review the proposal to lift the Age Pension eligibility age to 70 by 2035.

The AIST says the Intergenerational Report (IGR) provides no evidence supporting an increase to the age pension age, instead projecting that “future pension costs in our ageing population are manageable in existing policy settings.”

AIST rejects changes to super guarantee minimum threshold

AIST, Board of Taxation report, minimum superannuation guarantee payment thresholdThe Australian Institute of Superannuation Trustees (AIST) has urged the Government to reject the Board of Taxation recommendation to change the minimum superannuation guarantee threshold.

The recently released Board of Taxation report, Review of Tax Impediments Facing Small Business, included a recommendation to change the monthly minimum threshold of $450 for superannuation guarantee payments to a quarterly minimum of $1350, see Board of Taxation recommends changes to super guarantee.

The AIST has rejected this option, with CEO Tom Garcia saying “any move to raise the exemption threshold would unfairly penalise low income workers.”

Government planning to remove LISC disclosure requirements

AIST LISC disclosureThe Australian Institute of Superannuation Trustees (AIST) has called on the Government to not change the requirement to separately disclose the Low Income Superannuation Contribution (LISC).

The AIST claims that the Government is planning to repeal regulations which require that the LISC be separately disclosed on super fund member statements. If repealed the LISC could be bundled with other concessional superannuation payments, such as the government co-contribution.

The AIST is concerned this will “effectively mask the benefits of LISC to millions of members”

Speed up transition to MySuper to benefit members, says AIST

MySuper transition, AISTThe Australian Institute of Superannuation Trustees (AIST) has called for the Government to accelerate the transition to MySuper default super funds from “high-fee bank-owned default super funds.”

Under the Stronger Super changes superannuation fund trustees have until 1 July 2017 to transfer the balances of existing default members to a MySuper product.

This means that “hundreds of thousands of consumers are paying higher fees for their super and missing out on the benefits of the MySuper reforms,” said AIST Executive Manager David Haynes.