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 4 months ago
Kevin Gorman

Super director remuneration ...

1 year 4 months 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 4 months ago

Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transf...

1 hour 39 minutes ago

The International Monetary Fund (IMF) has issued a sobering assessment of the global economic landscape in its latest World Economic Outlook, dramatically revised after D...

4 hours 15 minutes ago

Growth from the listed company’s key businesses has propelled Generational Development Group to new milestones in the three months to 31 March....

4 hours 18 minutes ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND