POWERED BY MOMENTUM MEDIA
State Super uni funding agreement under way
State Super's trustee has written to the universities that are involved in its defined benefit scheme to develop a funding plan to allay fears its university employer reserves would become exhausted from 2015-2022.
The funding plan urged additional employer contributions from 2013-14 onwards to fulfill the defined benefit scheme payments.
The fund's actuary in its June 2009 review estimated that without additional contributions, the separate university employer reserves in the fund would most likely become exhausted from 2015-2022.
But universities must wait for word from current negotiations between the NSW Government and Commonwealth Government as to how much of the liability each government would accept, before agreeing to any funding program, State Super conceded.
In June, both governments wrote to the SAS Trustee Corporation, the trustee of State Super's defined benefit scheme, to confirm that negotiations to resolve the unfunded liabilities of universities were currently being discussed.
They expressed a desire to resolve the issue as quickly as possible, according to State Super.
State Super's defined benefit schemes include the State Superannuation Scheme (SSS), the State Authorities Superannuation Scheme (SASS) and the State Authorities Non-Contributory Superannuation Scheme (SANCS).
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
Vanguard Super has reported strong returns across most of its investment options, attributed to a “low-cost, index-based approach”.
The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members.
Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financial year, but an economist has warned that the rally may be harder to sustain as key risks gather pace.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
