The super fund has confirmed its chair Andrew Fraser plans to retire at its upcoming annual member meeting in November.
Fraser first joined Sunsuper as an independent director in September 2015, serving as chair of the investment committee before taking up the role of chair in February 2018.
Shortly after the fund’s merger with QSuper to create Australian Retirement Trust (ART) and the retirement of the foundation chair of ART, Don Luke, Fraser took up the role of chair in October 2022.
Now, following 10 years with the super fund, Fraser has decided to step down, stating that it is “the right time to begin a transition to enable ART to continue its trajectory of success”.
“It’s been an honour to serve our members, dating back to the Sunsuper days prior to the merger that created Australian Retirement Trust,” Fraser added.
“I am proud of everyone who contributed to the project to create ART, and am honoured to have played a role to establish ART.
“ART is, and will be, an enduring force for good – for our members, for the industry and the nation.”
Beth Mohle AM, deputy chair of ART, is set to oversee the process of selecting a new chair, who will be introduced to members at the annual member meeting on 20 November 2025.
Mohle thanked Fraser for his dedicated service to ART’s 2.4 million members.
“ART is in such a strong place as a result of Andrew’s guidance, vision and efforts, and he will be greatly missed,” she said.
“Andrew will leave a legacy of unwavering commitment to the service of working Australians and the stewardship of their collective retirement savings to provide financial dignity and security in retirement.”
An Australian superannuation delegation will visit the UK this month to explore investment opportunities and support local economic growth, job creation, and long-term investment.
An ASIC review has identified superannuation trustees are demonstrating a “lack of urgency” around improving their retirement communication and still taking a one-size-fits-all approach.
Superannuation funds have welcomed the boost that Treasury’s improvement on the Low-Income Superannuation Tax Offset will have for women and younger members.
The proposed changes to the Low-Income Superannuation Tax Offset (LISTO) has been applauded by the superannuation sector.