Combating human and heavenly crises

Rosemary Vilgan, CEO of QSuper, was on holiday in Europe when the flood came. She and Bob Scheuber, chairman of the fund, discussed whether she should return to lead the organisation’s response to the disaster. They decided against it. Vilgan did not want to send a signal to staff that the organisation could not manage without her. When work resumed QSuper set up a team to focus on life claims triggered by the flooding. Fund executives also managed problems experienced by staff members during the disaster. Robyn Petrou, CEO of Energy Super, said one employee had lost their house to the waters but did not let colleagues know for two weeks. Meanwhile their family was existing without a home.

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Gap between retirement leaders and laggards has grown: ASIC 

A year after regulators put super funds on notice about the unacceptable gap between the best and the worst of responses to the Retirement Income Covenant, the situation has become even worse. The Retirement Leaders Summit in Canberra heard that the leading funds treat retirement as a core business, while the laggards still see it as a compliance exercise.

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