First Super delivers great personal service and solid investment returns to its 70,000+ members. The metrics agree with us.
1. How did you start down this career path?
I was an industrial officer at a union when occupational super was agreed with the Hawke/Keating government. Under the leadership of Greg Richards, the PBB&AT Union Secretary, we secured super for many in the baking and food industries.This righted a wrong – the bosses and a select few white-collar workers got super, but blue-collar workers got nothing. It remains a matter of pride for me that women and men in the food production industries finally got some equality in the workplace.Following this, I was a union trustee on several super funds in the 80s and 90s. I re-entered industry super in 2008 first working for Statewide Super, which no longer exists (which is a disappointment), and now First Super.
2. What inspires you in your role/industry? Why?
Making sure our members have and maintain dignified retirements. We can make a real difference for our members and their families if we continue to keep things simple – receive members’ contributions, invest it prudently and then give them back more.The efforts and unity of the workers who went on strike in the 80s to secure occupational super continue to inspire me. Remembering why occupational super was agreed between the ACTU and the Federal government inspires me every day – or more importantly, remembering the inequality that existed in the 80s. Very few of us are privileged to deliver this important social and economic breakthrough every day. Breaking open preservation destroys this breakthrough. Workers should not be forced to make the choice between super or a house. I don’t want to see Australian workers return to the early 80s, when they didn’t have super and many retired with the age pension and nothing else. This is not a dignified retirement.
3. What’s your approach to customer service that separates you from the rest?
We mean it when we say we’re ‘Large enough to perform, small enough to care’. We firmly believe in personal service. This means having local staff servicing workplaces and visiting members in their homes. Superannuation is complex, and having someone by your side makes a difference, whether it’s a Member and Employer Services Coordinator or a Financial Adviser. We also have a well-resourced contact centre, so members don’t wait long to speak to someone.We have been criticised for our higher cost member service model. We will continue to defend it as it can make a meaningful difference for our members and their families.
4. How do you innovate and stay ahead of industry trends?
We concentrate on service rather than chase whatever is exciting people in the industry at the moment.The one industry trend we will continue to stay ahead of is the decline in member service. You don’t need to innovate to do this, you do need to know why your fund existed in the first place.
5. What is the toughest challenge you’ve faced in your role? How did you overcome it?
The biggest challenge has been fund sustainability. While our returns have been consistently strong, often outperforming much larger peers, membership loss and fund outflows have been a challenge.My executive team and I built a strong, capable and creative Trustee office that developed and implemented membership recruitment and retention strategies. These strategies stemmed the membership losses and fund outflows and provided a foundation on which to grow our Fund. As a percentage, we have grown our organic membership more quickly than any other fund last financial year. For the third year in a row, we’ve had net inflows. We’ve continued to outperform almost all other funds in APRA’s Your Future Your Super performance test – this year we were tied 4th with HostPlus in delivering 10-year Net Investment Returns.Our 10-year NIR speaks for itself – creating long term retirement value for our members, each day, every day.Having a sustainable fund means that we can continue to do this well into the future.6. What are some of your goals for the next five years?Our goals are to maintain our social licence with members, their families and communities and our shareholders and stakeholders; continue to provide the best member service that we can and continue to deliver strong investment returns. We know we will have achieved our goals in five years’ time, when we’ve continued to perform solidly, are sustainable and continue to have high member service satisfaction levels.
About First Super
First Super is super fund that is large enough to perform, and small enough to care. More than 70,000 members trust us to manage $4.5 billion of their hard-earned savings.We’re and industry super fund, which means we’re run to benefit our members. We welcome all Australians regardless of their occupation or location, but we have particularly strong links to the timber industry. When it comes to super most Australians want the same things: value for money, tailored service and long-term returns that can help members have a dignified retirement. We pride ourselves on our tailored service and are committed to helping each member achieve the best possible retirement
