Two fronts in the battle between industry and retail super funds have been revived by the introduction of Government Bills to the Parliament to change the governance and reporting requirements on super funds. The Government has introduced two Bills to the Parliament to enact its super fund governance changes –… Read More »Bills restart battle between industry and retail super funds
Super fund governance
Articles relating to the governance of superannuation funds. The Government has proposed that public offer super funds should have at least one-third independent directors/trustees. The Financial System Inquiry had recommended a majority of independent directors/trustees for super fund boards and an independent chair.
The Government has introduced Bills to enact its super fund governance and accountability policies to the Senate, before the House of Representatives, restarting a battle between industry and retail super fund. The Government introduced the Bills directly to the Senate, instead of to the House of Reps. Minister for Revenue… Read More »Government puts super fund governance & accountability Bills to Senate first
Industry Super Australia has launched a new attack campaign on the banks and their “attempts to dismantle the model used by the most successful part of the superannuation system, and put at risk the retirement savings of millions of Australians”. The campaign, called ‘Banks aren’t super’, includes a TV ad depicting… Read More »New anti-bank super campaign launched by Industry Super Australia
The battle between government and industry superannuation funds over super fund governance is set to continue, with the release of the Fraser review and an AIST governance code. After a long delay the Fraser review, Board Governance of Not for Profit Superannuation Funds, has been released. The Review was announced… Read More »Battle over super fund governance set to continue, Fraser review released
The Government has announced it will reintroduce a Bill changing the governance arrangements for large superannuation funds. The Superannuation Legislation Amendment (Trustee Governance) Bill lapsed when Parliament was prorogued ahead of the double dissolution election, and so would need to be introduced to Parliament again. Among other changes, the Bill… Read More »Government to reintroduce super fund governance Bill
The chief executive of industry superannuation fund Vision Super has accused the Government of using superannuation as an ideological “plaything”.
The members of not-for-profit superannuation funds should be able to vote for fund directors, says the Governance Institute of Australia.
Industry Super Australia (ISA) and the Australian Institute of Superannuation Trustees (AIST) have commissioned a governance code of conduct for not-for-profit superannuation funds.
Changes to the governance arrangements for large superannuation funds are unlikely to pass the Senate.
The Superannuation Legislation Amendment (Trustee Governance) Bill 2015 should be passed, the majority of a Senate inquiry has recommended.