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New members elected to ASFA board
The Association of Superannuation Funds of Australia (ASFA) has announced two additions to its board – BT Financial Group general manager, Superannuation, Melinda Howes and the Commonwealth Superannuation Corporation chief executive, Peter Carrigy-Ryan.
Announcing the appointments, ASFA independent chairman, Michael Easson said Howes would be a retail fund representative, while Carrigy-Ryan would be a public sector fund representative.
“Peter has more than 30 years’ experience in financial services and superannuation,” he said. “Melinda is an actuary whose career has spanned policy, strategy, consulting, product and sales work in superannuation, wealth management, insurance and not-for-profit entities.”
Howes and Carrigy-Ryan succeed Brad Holzberger and Dean Thomas who stood down at the end of their terms.
Four directors have been re-elected to the ASFA Board – public sector representative, Michael Dwyer, retail representative Linda Elkins and service provider representatives, Andrew Boal and Suzanne Holden.
The ASFA Board also confirmed Dr Michael Easson AM as its Independent chair.
Following the Annual General Meeting at the ASFA Conference, the ASFA Board is made up of the following directors:
Independent Chair
- Dr Michael Easson AM, Chairman, Founding Director of EG Funds Management
Industry funds
- David Elia (Fellow of ASFA), Chief Executive Officer, HOSTPLUS
- Damian Hill (Fellow of ASFA), Chief Executive Officer, REST Superannuation
Public sector funds
- Peter Carrigy-Ryan, Chief Executive Officer, Commonwealth Superannuation Corporation
- Michael Dwyer AM (Fellow of ASFA), Chief Executive Officer, First State Super
Service providers
- Andrew Boal, Head of Australasia, Willis Towers Watson
- Suzanne Holden, Chief Executive Officer, Link Group Fund Administration
Retail funds
- Linda Elkins, Executive General Manager, Colonial First State
- Melinda Howes, General Manager of Superannuation, BT Financial Group
Corporate funds
- Michael Clancy, Chief Executive Officer, Qantas Superannuation
- Chris Davies, Chief Executive Officer, TelstraSuper
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The future of superannuation policy remains uncertain, with further reforms potentially on the horizon as the Albanese government seeks to curb the use of superannuation as a bequest vehicle.
Superannuation funds will have two options for charging fees for the advice provided by the new class of adviser.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
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