POWERED BY MOMENTUM MEDIA
Super long wait over for Ansett workers
The wait is over for approximately 11,000 ex-Ansett staff who finally received their superannuation entitlements after nearly a decade.
Progressive payments were made over the past few months, with the final balance settled on 28 June according to the Minister for Financial Services and Superannuation, Bill Shorten.
Former trustees of two Ansett superannuation plans formed the Ansett Residual Superannuation Fund in 2004 (with Mercer as trustee) to pay outstanding death and disablement claims and distribute remaining assets to members.
Shorten said, "Ansett may be gone, but the workers are not forgotten. The Labor party has never given up on Ansett workers."
Ansett was placed under voluntary receivership in September 2001 after Air New Zealand struggled to make the company viable in the face of increasing domestic and international competition.
"The collapse of Ansett was a significant moment in Australia's recent history, and as much of an impact as it had on the country, it is of course the workers who suddenly lost their jobs that day who were the most affected."
Legislation was recently passed giving the Commissioner of Taxation power to recover unpaid superannuation guarantee amounts from company directors when companies fail to comply with superannuation obligations.
The Government also confirmed ongoing support for the 'Securing Super' proposals as part of the Protecting Workers' Entitlements Package.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
