Catholic Super has two new board directors following member and employer elections.
General secretary of the Independent Education Union Victoria Tasmania, Deb James, has been elected as a member representative director, while Princess Alexandria Hospital Brisbane chaplain Chris Harkin has been appointed an employer representative director.
Sister Angela Ryan has retired as director after representing members of the fund for 20 years.
“The responsibilities of directors of superannuation trustee boards are very significant and time-consuming and in this context I wish to acknowledge the contribution of Sister Angela, who has given well above what could reasonably be expected in ensuring that our merger with the National Catholic Superannuation Fund in 2010 was successful, and that services and investment returns to our members have been at the highest levels possible within the current financial environment,” said Catholic Super chair Peter Bugden.
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.
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.