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ARTICLE · 10 OCTOBER 2011

Stronger Super - Governance

Holding Redlich
Holding Redlich
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This article provides an overview of the Governance part of the new Stronger Super Information Pack.

AustraliaEmployment and HR
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The Federal Government released its Stronger Super Information Pack (the Pack) on 21 September 2011. The Pack contains key design aspects of the Stronger Super Reforms. This Update provides an overview of the Governance part of the Pack.

Trustee Duties

It was originally proposed that a new statutory office would be created called Trustee Director, where the duties, power and standards would all be contained within the Superannuation Industry (Supervision) Act 1993 (SIS Act). The Government has determined after consultation not to proceed with this proposal. Instead it will focus on the following:

Conflicts of interest

The Government will introduce a duty for trustees and directors of corporate trustees (trustees) to give priority to the interests of members when their duty as a trustee conflicts with other duties.

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