Who’s getting the big super board fees?

7 May 2020
| By Mike |
image
image
expand image

If you’re going to be appointed to the trustee board of a superannuation fund choose a bank-owned retail fund or a large industry fund – you’ll get paid more.

That is the bottom line of answers provided by both retail and industry superannuation funds to the House of Representatives Standing Committee on Economics.

The answers reveal that while the trustee directors employed on the National Australia Bank’s NULIS board received a total of $1,151,682 in directors fees equating to an average of $221,477, this compared to the trustees of the Australian Catholic Superannuation Fund who received an average salary of $57,370 a year.

This in turn compares to the $125,000 paid to trustee directors of the AMP superannuation funds, and the average remuneration of $118,103 paid to trustee directors of major retail industry superannuation fund, REST.

A number of large retail and industry funds have yet to respond to the questions on notice from the Parliamentary Committee.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 1 month ago
Kevin Gorman

Super director remuneration ...

1 year 1 month ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 1 month ago

Global X believes the yellow metal could soar as high as US$3,000 this year, with market flows leading the charge....

3 days 3 hours ago

While Australian companies could face starkly different climate-related reporting regimes depending on which way the election swings, a sustainable investment specialist ...

3 days 3 hours ago

The Association of Superannuation Funds of Australia (ASFA) is calling on the federal government to focus on measures in the upcoming budget that will improve fairness fo...

3 days 3 hours ago

TOP PERFORMING FUNDS