AIST promotes the representative governance structure. Under this system, members of profit-to-member superannuation funds and their employers are provided with representation on Boards of Trustees. Read more

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14 Mar 2018 - Opening address - AIST CEO Eva Scheerlinck at the 2018 Conference of Major Super Funds, Brisbane

"We are set for another big year in our industry this year. Assets under management continue to grow, markets are volatile and unpredictable, and there is a spotlight on our industry’s conduct and expenditure, through the lens of a Royal Commission ..."

27 Oct 2017 - AIST’s Karen Volpato wins 2017 Woman of the Year Award

The Australian Institute of Superannuation Trustees (AIST) congratulates our senior policy advisor, Karen Volpato, for winning the 2017 Woman of the Year Award announced last night in Sydney at the 5th annual Money Management & Super Review Women in Financial Services Awards.

10 Oct 2017 - Eva Scheerlinck opening address on Superannuation Laws Amendment

Opening statement by Eva Scheerlinck, Chief Executive Officer, Australian Institute of Superannuation Trustees to Senate Economics Legislation Committee on Superannuation Laws Amendment (Strengthening Trustee Arrangements) Bill 2017 and Improving Accountability and Member Outcomes in Superannuation Measures No. 1 & No. 2 Bill 2017

9 Oct 2017 - Equal representation delivers best outcomes for super fund members: AIST

AIST has recommended that the Senate reject a push by the Government to mandate a governance model for super funds.

23 Mar 2017 - AIST announces 2017 Board

AIST has today announced its 2017 Board.

23 Mar 2017 - AIST appoints CEO

Eva Scheerlinck has been appointed as AIST’s new Chief Executive Officer, effective immediately.

22 Mar 2017 - AIST announces Cate Wood as Trustee of the Year

AIST has today announced Cate Wood as the recipient of the AIST Trustee of the Year Award at the Conference of Major Superannuation Funds on the Gold Coast.

1 Mar 2017 - AIST Acting CEO appointed

The AIST board today announced the appointment of Eva Scheerlinck as acting CEO.

16 Feb 2017 - New governance code keeps superannuation members’ interests first

AIST has developed a new governance code that reinforces the importance of member representation on the boards of superannuation funds and aims to keep profit-to-member funds positioned at the leading edge of governance practices.

16 Feb 2017 - Fraser Review: Member-first ethos central to success of not-for-profit super funds

Former Reserve Bank Governor and Treasury Secretary, Bernie Fraser, has delivered his report into not-for-profit super fund governance.

16 Dec 2016 - AIST CEO Tom Garcia to step down

AIST today announced the resignation of its chief executive officer, Tom Garcia.

1 Dec 2016 - Super industry takes collective stand on domestic violence

AIST has signed the Women in Super Charter Addressing Domestic Violence.

28 Nov 2016 - AIST Awards recognise the importance of connecting to members

Check out the winners from the 2016 AIST Awards for Excellence.

22 Aug 2016 - AIST launch Reconciliation Action Plan (RAP)

AIST has launched a Reconciliation Action Plan (RAP) in line with its commitment to reconciliation with Aboriginal and Torres Strait Islander peoples.

17 Mar 2016 - 2016 AIST Board announced

AIST has today announced board changes for 2016 – including the resignation of AIST President Angela Emslie, who has served on the board of AIST, and before that CMSF, for a total of 19 years

18 Dec 2015 - The Fraser Governance Review

AIST and ISA have asked Bernie Fraser to lead a Review of governance arrangements in respect of not-for-profit superannuation funds, and to propose a best practice Governance Code for such funds.

2 Dec 2015 - First class returns and first class governance

AIST and ISA will commission a review by former RBA Governor and Treasury Secretary Bernie Fraser to lead the development of a best practice governance code of conduct for not-for-profit super funds by 30 April 2016.

15 Oct 2015 - Proposed governance changes run counter to international best practice

Proposed changes to the governance framework of not-for-profit superannuation funds run counter to international best practice in pension fund governance, The Australian Institute of Superannuation Trustees (AIST) said today.

16 Sep 2015 - Proposed changes to boards of super funds will dilute consumer voice

AIST is urging all parliamentarians to reject proposed legislation to change the composition of not-for-profit superannuation boards.

20 Aug 2015 - No evidence to support Government’s superannuation governance changes

AIST will continue to oppose unnecessary changes to the boards of not-for-profit superannuation funds.

23 Jul 2015 - Government’s proposed changes to super fund boards pose risks without any demonstrable benefits for members

The Government’s proposed changes to the board composition of super funds were risky and not supported by evidence, AIST said today.

26 Jun 2015 - Government changes to super fund boards not supported by evidence - AIST

The Government’s proposed changes to the governance arrangements of not-for-profit boards announced today are not supported by any hard evidence, AIST said today.

19 Mar 2015 - Bob Henricks & Maree O’Halloran named as joint AIST Trustee of the Year

Bob Henricks & Maree O’Halloran are named as joint AIST Trustee of the Year

18 Mar 2015 - AIST announces 2015 board

The Australian Institute of Superannuation Trustees (AIST) has announced its 2015 board which includes the addition of two new board members and the re-election of four others at the Annual General Meeting in the Gold Coast this morning.

18 Feb 2015 - Superannuation industry loses one of its greats

It is with great sadness, that AIST and WIS announce the passing of Mavis Robertson AM.

21 Nov 2014 - AIST Awards celebrate achievements by not-for-profit superannuation funds

The AIST Awards for Excellence were announced last night at Melbourne’s RACV City Club, with a number of outstanding achievements celebrated.

26 Aug 2014 - Renovate the house don’t pull it down – AIST responds to the Financial System Inquiry

The Australian Institute of Superannuation Trustees (AIST) said today Australia’s $1.85 trillion superannuation system is on track to deliver further cost savings and value to members with the recently launched MySuper having already led to significant fee reductions*.

16 Jul 2014 - AIST to provide comprehensive response to the Financial Systems Inquiry interim report

The Australian Institute of Superannuation Trustees (AIST) said today it would begin preparing a comprehensive response on key superannuation issues raised in the Financial System Inquiry’s interim report. AIST CEO Tom Garcia said AIST welcomed the Inquiry’s support of a robust regulatory framework for superannuation, its recognition of superannuation’s important role in the economy, and the need to develop clearer objectives for the superannuation system.

28 Apr 2014 - AIST announces new president

The Australian Institute of Superannuation Trustees (AIST) has today announced the appointment of Angela Emslie as its new President. AIST CEO Tom Garcia said the AIST board was delighted to appoint Ms Emslie, who has been a director of AIST since 2007, and is currently Chair of HESTA and a Director of Frontier Advisors.

27 Mar 2014 - Elana Rubin awarded the inaugural AIST Trustee Lifetime Achievement Award

The inaugural AIST Trustee Lifetime Achievement Award has been awarded to Elana Rubin, who recently retired as the chair of Australian Super after more than 20 years as a trustee director of industry super funds.

25 Mar 2014 - Brumby_takes out trustee of the year award

The Australian Institute of Superannuation Trustees (AIST) has announced John Brumby as Trustee of the Year at their Conference of Major Superannuation Funds (CMSF) today. Mr Brumby, who is the chair of MTAA Super, joined the fund in 2011 after serving 25 years in state politics.

24 Mar 2014 - AIST announces 2014 board

The Australian Institute of Superannuation Trustees (AIST) has announced the addition of four new board members at the Annual General Meeting in the Gold Coast this morning.

17 Feb 2014 - Change has never been something that the not-for-profit superannuation sector has shied away from – quite the opposite.

Click here to read Tom's op ed piece published in The Age.

3 Nov 2017 - Treasury Laws Amendment (Whistleblowers) Bill 2017

AIST supports the measures in the exposure draft legislation to create a consolidated whistleblower protection framework. The development of a new framework should be accompanied by an examination of corporate misconduct within Australia because a robust whistleblower framework on its own cannot prevent misconduct. Other factors such as poor workplace culture and poor leadership can increase the likelihood of misconduct.

29 Sep 2017 - Improving accountability and member outcomes in superannuation measures No.1

AIST recommends that the outcomes assessment outlined in the Bill be modified in order to reflect the importance of net returns above any other criteria in determining the appropriateness of MySuper product offerings and that the assessment should also apply to Choice products. AIST also notes that it is important for funds to have the flexibility to choose the best method to conduct Annual Members’ Meetings, and that APRA’s existing regulatory framework should be reviewed before expanding its powers.

29 Sep 2017 - Strengthening Trustee Arrangements Bill 2017

AIST is strongly opposed to all the measures in the Bill, and believes it is inappropriate to prescribe a governance model to apply to all funds absent comprehensive empirical evidence that the current system is failing. The preservation of the equal representation model is paramount for a number of reasons, including investment outperformance.

26 Jul 2017 - Strengthening ASIC’s licensing powers

AIST supports measures which ensure that ASIC has the appropriate powers to ensure that entities applying for Australian Financial Services Licenses (AFSLs) are fit and proper licensees. AIST supported this recommendation from the Financial System Inquiry. AIST's submission indicates our full support for all of the positions proposed in the consultation paper. We have, however, chosen not to respond to the questions contained in the paper.

9 Jul 2017 - Framework for Comprehensive Income Products for Retirement

AIST recommends that a post retirement framework be required to be developed by trustees. This would assist trustees in developing a preferred retirement income strategy for their members, in line with members’ needs and best interests. To strengthen putting the best interests of members first, current gaps in the Choice disclosure space require attention as a priority. Given the importance of post-retirement issues, AIST calls for a working group be established to review key post-retirement issues as well as the establishment of a holistic review of retirement incomes.

10 Feb 2017 - Whistleblower protections

The Australian Whistleblower protection framework is in need of significant reform because it fails to adequately protect whistleblowers. Changes to the law are necessary to ensure that those who disclose misconduct are not adversely affected as a result of making a disclosure and are able to seek redress in the event that they are victimised or suffer detriment.

27 Jan 2017 - External Dispute Resolution: Response to Interim Report

AIST strongly opposes the draft recommendation to transition the Superannuation Complaints Tribunal to an industry ombudsman scheme because it will detrimentally affect consumers and superannuation funds. The statutory nature of the tribunal provides consumer protections that cannot be replicated within an ombudsman model.

19 Jan 2017 - Pre-Budget Submission 2017

AIST welcomes the opportunity to present our Pre-Budget submission for 2017-18. We do not endorse superannuation being used for deficit reduction to a greater extent than other industry segments or for untested superannuation policy announcements to be made on Budget night. The current package of superannuation reforms should be implemented and allowed to settle, and KPIs should be developed and used to assess system performance against the primary and subsidiary objectives by an independent, publicly-funded body. AIST recommends a range of changes to improve superannuation for consideration.

7 Oct 2016 - External Dispute Resolution Framework

The Government’s review of the financial system’s external dispute resolution framework must carefully consider the needs of consumers. Due to the growth of the superannuation sector the dispute resolution framework must continue to be well equipped to deal with consumer demands and AIST believes that there is scope for improvement. AIST is not opposed to the establishment of a triage service, or a single disputes handling body.

16 Sep 2016 - Superannuation reform package – Objective of superannuation

In conjunction with other industry associations, AIST seeks that the Government consult further prior to introduction of the Bill. We seek the amendment of the primary objective to include reference to providing an adequate income that delivers a comfortable retirement. AIST also seeks an additional subsidiary objective of increasing national savings; recognition of insurance as key part of the ‘sole purpose test’; Parliamentary committee review of statements of compatibility; and the development of tools to assess compatibility.

13 Sep 2016 - Submission on Productivity Commission draft report on superannuation efficiency and competitiveness

AIST welcomes the Productivity Commission's draft report and its focus on developing appropriate evidence-based measures to assess the efficiency and competitiveness of the system

22 Apr 2016 - Productivity Commission inquiry into superannuation efficiency and competitiveness

10 Feb 2016 - 2016-17 Pre-Budget Submission

AIST does not support the Budget being used to implement changes to the superannuation tax environment without considering the outcomes of the tax inquiry process and retirement incomes review, as well as the setting of objectives for the superannuation system. We recommend that these are finalised prior to any hasty policy changes driven by fiscal short-termism. However, we continue to support Budget action on a number of specific measures to improve fairness and efficiency of the system.

26 Oct 2015 - Reforms to Superannuation Governance Prudential Framework

APRA has proposed draft prudential standards and practice guides designed to support the Superannuation Legislation Amendment (Trustee Governance) Bill 2015 which is currently before Parliament. AIST does not support the changes, and is unconvinced of any resulting benefit to members. AIST would also support an approach which is less prescriptive and more principles-focussed in its approach.

14 Oct 2015 - Senate Economics: Trustee Governance Bill inquiry

The Superannuation Legislation Amendment (Trustee Governance) Bill 2015, currently before Parliament, proposes to impose up to one third independent directors on trustee boards.This submission is a response to an inquiry into the Bill at the Senate Economics Legislation Committee. AIST opposes this Bill for a number of reasons: We support flexibility rather than quotas, the international recognition of the equal representation model, real conflicts are ignored, existing regulator powers and the cost of disruption to business and members. Download the full submission here.

31 Jul 2015 - Reforms to superannuation governance – APRA

The Government’s proposed changes to trustee board governance include a proposal to mandate one third directors being independent. AIST does not support this proposed change. Instead, AIST supports principles-based regulation that supports flexibility around an industry with distinctly different sectors. We have recommended several changes, including defining the term ‘independent’ in legislation and not providing APRA with the power to make determinations on an individual’s independence.

23 Jul 2015 - Reforms to superannuation governance

AIST is pleased to respond to this draft legislation and regulations from Treasury, which will introduce a requirement for funds to have a minimum of one third independent directors, and an independent chair. AIST notes the costs involved with this measure, and notes that there is no substantive reason to make changes which arguably will not address real and demonstrated conflicts in board structures. AIST also points out that the changes are being made with some haste that may pose risks, including those to the best interests of members, as well as breaches of the rule of law.

31 Mar 2015 - AIST releases submission to final FSI report

AIST’s response to the Government on the Final Report of the Financial System Inquiry (FSI). The FSI Final Report makes a number of recommendations about superannuation and canvasses a range of policy options.

9 Feb 2015 - 2015-16 Pre-Budget submission

AIST’s pre-budget submission discusses a range of measures that we believe are in the public interest. Issues raised in our submission include improving the fairness of superannuation, reviewing the rules associated with the age of superannuation fund members and the fairness of existing arrangements for employees, as well as the transition to 12% SG. We also raised the question of inconsistencies associated with the financial supervisory levies and recommended an increase in funding to Indigenous identification schemes.

5 Dec 2014 - Scrutiny of financial advice enquiry

AIST welcomes this Senate Economics inquiry into the scrutiny of financial advice. AIST recommends higher education standards, ongoing professional development and independently regulated codes of conduct combined with better resourcing of regulators. Penalties for poor advice should be reviewed to ensure they better repair customer impacts. In light of recent scandals and the lack of consistency, consumers deserve better.

26 Aug 2014 - Response to Financial System Inquiry Interim Report

The Financial System Inquiry, chaired by David Murray, has released its interim findings in to the financial system of Australia. This is AIST's response to these findings.

31 Mar 2014 - Initial submission to the Financial System Inquiry

The Financial System Inquiry, chaired by David Murray AO, is charged with examining how the financial system could be positioned to best meet Australia's evolving needs and support Australia's economic growth. AIST’s initial submission examines regulation, the issues of adequacy, sustainability and longevity, diversity and governance, systemic risk, ensuring the system delivers and consideration of post-retirement solutions.

13 Feb 2014 - Equal representation is critical to delivering best member outcomes in superannuation

Equal representation of member and employer representatives on the boards of not-for-profit superannuation funds is critical to delivering the best retirement outcomes for members, The Australian Institute of Superannuation Trustees (AIST) said today.

12 Feb 2014 - Discussion paper – Regulation, governance, transparency and competition in the superannuation industry

The Assistant Treasurer released this discussion paper in November 2013, the purpose of which is to seek feedback on governance and transparency issues contained in the Government's superannuation election commitments. The paper also provides an opportunity for consultation on opening up competition and increasing transparency in relation to default employee superannuation fund contributions.

7 Feb 2014 - Fair Work Commission 2014 review of default fund terms

Section 156A of the Fair Work Act 2009 requires the Fair Work Commission to conduct a four yearly review of the default fund terms of modern awards starting as soon as practicable after, in effect, 1 January 2014. This is AIST's submission to the current review.

21 Nov 2017 - Gender diversity in profit-to-member super funds

The AIST Gender Diversity report reveals that many superannuation funds are taking positive steps towards achieving gender diversity and implementing changes to ensure each gender is equally supported, and able to thrive within the organisation. Participating funds generally had better processes, policies, strategies and procedures in place to support gender diversity in the workplace when compared to organisations in the finance sector.

15 Sep 2014 - International trends and how Australia stacks up

The growing significance of superannuation - both to the members it serves and the Australian economy - underscores the importance of best practice governance of superannuation funds. Strong trustee governance practices reduce the potential risks faced by a superannuation fund, with flow on effects for the fund's stability and sustainability. Good performance and sustainability are fundamental to optimising members' retirement benefits..

15 Sep 2014 - (Summary) International trends and how Australia stacks up

The growing significance of superannuation - both to the members it serves and the Australian economy - underscores the importance of best practice governance of superannuation funds. Strong trustee governance practices reduce the potential risks faced by a superannuation fund, with flow on effects for the fund's stability and sustainability. Good performance and sustainability are fundamental to optimising members' retirement benefits..

15 Jul 2014 - Navigating the new MySuper landscape

AIST commissioned RiceWarner to examine the extent MySuper has delivered on its promise of improved retirement incomes, the characteristics of common MySuper investment solutions, the differences and similarities between MySuper products and "lookalike" products, and emerging trends in the evolution of MySuper products.