Catholic Super has two new board directors following member and employer elections.
General secretary of the Independent Education Union Victoria Tasmania, Deb James, has been elected as a member representative director, while Princess Alexandria Hospital Brisbane chaplain Chris Harkin has been appointed an employer representative director.
Sister Angela Ryan has retired as director after representing members of the fund for 20 years.
“The responsibilities of directors of superannuation trustee boards are very significant and time-consuming and in this context I wish to acknowledge the contribution of Sister Angela, who has given well above what could reasonably be expected in ensuring that our merger with the National Catholic Superannuation Fund in 2010 was successful, and that services and investment returns to our members have been at the highest levels possible within the current financial environment,” said Catholic Super chair Peter Bugden.
Australia’s superannuation funds are becoming a defining force in shaping the nation’s capital markets, with the corporate watchdog warning that trustees now hold systemic importance on par with banks.
Payday super has passed Parliament, marking a major shift to combat unpaid entitlements and strengthen retirement outcomes for millions of workers.
The central bank has announced the official cash rate decision for its November monetary policy meeting.
Australia’s maturing superannuation system delivers higher balances, fewer duplicate accounts and growing female asset share, but gaps and adequacy challenges remain.