Policy and Regulation

APRA must stand alone

It may have gone unnoticed by many, but Friday 26 June 2015 was a highly unusual day in the history of superannuation legislation and our parliamentary process. On the same day that the government released exposure draft legislation to change governance arrangements in superannuation for public consultation, APRA wrote to RSE licensees to outline its […]
Industry View

Judge, jury, and policy maker

Tom Garcia, chief executive of the Australian Institute of Superannuation Trustees, sees headaches ahead from proposals to mandate more independent trustees. After some years of debating the board composition of superannuation funds – in particular, the true meaning of director independence – we now have draft proposals from both the government and the regulator to […]
Investment Strategy

Independent proposal condemned as a sledgehammer approach by Garcia, but ASFA is in favour

The Australian Institute of Superannuation Trustees’ (AIST) submission, in reply to the draft legislation to change the governance structure of super funds, has heavily condemned the approach of the Government as risky and not supported by evidence. By contrast, the Association of Superannuation Funds of Australia (ASFA) says the proposal reflects changing community expectations, the […]

Industry funds sanguine about one third rule

Chairs of industry funds have reacted with pragmatism to the Government’s move to enforce one third of their boards to be independent and to have an independent chair. Many have already anticipated the change in legislation by hiring their first or second ever independent trustees with the explicit intention of filling skills on their board. […]

Profile: Bob Henricks, chair of Energy Super

Pragmatic, smart on costs and aware of his time coming to an end, Bob Henricks, the long serving chair of Energy Super talks to Investment Magazine. Australian superannuation funds have a reputation as some of the world’s toughest fee negotiators which must make Bob Henricks one of steeliest negotiators anywhere. He objects to the imposition […]