Many superannuation funds still have a long way to go in terms of addressing the gender balance on their trustee boards, according to the latest Australian Prudential Regulation Authority (APRA) data.
The data, released this week, revealed that as of 30 June, last year, there were 1,071 directorships of boards of APRA-regulated trustees, with females accounting for just 28.2 per cent of those positions.
The data also revealed that the average board comprised just seven members and that the average director remuneration amounted to $43,771 a year.
The APRA data said that as at 30 June there were 144 APRA-regulated registrable superannuation entity (RSE) licensees responsible for managing 225 funds with more than four members and that these funds had $1,290.2 billion in assets and 27 million member accounts.
The APRA data has been published at the same time as the Government continues to pursue legislative change to superannuation fund governance arrangements, including majority independent directors.