HOSTPLUS chief executive David Elia has been elected to the board of the Association of Superannuation Funds of Australia (ASFA) to represent industry funds.
The election took place at ASFA's annual general meeting last week.
ASFA chief executive Pauline Vamos said departing board member and Cbus chief executive David Atkin had made an invaluable contribution.
"The board has greatly benefitted from his leadership, particularly during this historic time of reform," Vamos said.
Sunsuper chief executive Tony Lally was re-elected to the chair of the ASFA board for another 12 months at the board meeting that followed.
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.