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Parliament ratifies CSS/PSS board merger
The boards of the major superannuation funds covering Commonwealth public servants, the CSS and PSS, will merge from July 1, following the passage of legislation through Parliament.
The legislation, the Superannuation Legislation Amendment (Trustee Board and Other Measures) Bill, was passed by the Parliament during its current sitting — a move that will see the two boards merged into a single governance structure known as the Australian Reward Investment Alliance.
The merger of the two boards, flagged more than a month ago, is aimed at delivering cost-efficiencies and eliminating administrative complexity.
AUTHOR
Mike Taylor
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