On 31 October 2008, the Government announced that the trustee boards of Australian Reward Investment Alliance (ARIA), the Military Superannuation and Benefits Scheme (MSBS) and the Defence Force Retirement and Death Benefits Scheme (DFRDB) will merge to form a single trustee board from 1 July 2010.
While AvSuper shares many similarities with some of the affected super funds, we are not a Government super fund and we are therefore unaffected by these changes.
Lindsay Tanner, Minister for Finance and Deregulation said “The outcome will be a more efficient trustee operation and improved service delivery to members.”
This was confirmed by Nick Sherry, Minister for Superannuation and Corporate Law who said that “the reforms will not affect members’ superannuation benefits in any way. Each scheme will retain its own legislative base and provisions.” if you have any queries about your membership of Australian Government super funds, you should contact your fund.
AvSuper has a unique “profit-for-members” structure, taking the best features of industry, corporate and retail super funds to provide our members with the best of all worlds.
AvSuper commenced operations in 1990, and since that time, we have grown to a membership of over 5,000 with funds under management of over $1 billion. The Trustee of AvSuper is closely aligned with the member-focussed, low-fee philosophy of Australia’s industry funds – we seek to provide outstanding service to members, have strong investment performance, low fees, and don’t pay commissions to financial advisers – most importantly, AvSuper is run only to profit members.
Michelle Griffiths, CEO