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(July-2003) Local Govt schemes to team up
Seven local government super schemes around Australia, with more than $10 billion in combined assets and over 250,000 members, are poised to form an association in a bid to boost their bargaining power and efficiencies.
They are set to meet again in early August to resolve constitutional issues.
It is understood that Brett Westbrook, CEO of the Local Government Superannuation Scheme and the Energy Industries Superannuation Scheme, has been put forward as the association’s chair. Westbrook, however, declines to comment on this possiblity.
“We have not signed the constitution yet and while some members have indicated that they’d like to see me take on the role of chair, that hasn’t been resolved yet,” he says.
The formation of an association will allow the funds to speak with one voice. While the funds have been working together as an informal forum since 1993 to compare notes, the drive now is to formalise this relationship.
The association is expected to bolster the funds’ clout when negotiating contracts with service providers and to facilitate the sharing of ideas and resources between them.
AUTHOR
Zilla Efrat
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