The Australian Institute of Superannuation Trustees (AIST) has appointed Eva Scheerlinck to the newly created role of trustee governance and professional standards manager, and Richard Webb as professional standards and compliance analyst.
Scheerlinck is a former chief executive of the Australian Lawyers Alliance and a previous member of the Standards Committee Australia advising on open disclosure in health care.
Webb has worked as a training consultant with AIST for the past two years and brings a wealth of superannuation and financial services experience to the role, according to AIST.
AIST chief executive Fiona Reynolds said the organisation’s increased focus on governance and professional standards in the superannuation industry would also expand its capabilities in advocacy, policy and research.
“The reviews of the last few years — particularly the Cooper Review — have put the spotlight on trustee governance and industry ‘best practice’,” Reynolds said.
“These issues will only grow in importance as the industry moves to implement the new reforms and larger super balances leads to higher member engagement and expectations about super fund performance,” she said.
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.