It is now compulsory for all super funds to hold an Annual Member Meeting (similar to an Annual General meeting or AGM) to enable members of the fund to hear details about the performance and operation of the fund over the course of the financial year, and to ask questions.
As the registrable superannuation entity (RSE) and trustee responsible for funds covering more than 700,000 superannuation fund members, it is our role to ensure Annual Member Meetings are held, which means we sometimes manage the meetings directly. We ensure all members have access to those we conduct directly by holding them online and making available the recording and notes here on our website.
In addition, each year we independently assess how well the products issued from the superannuation funds for which we are trustee have delivered member outcomes and promoted members’ financial interests. The results of these assessments are published in Member Outcomes Statements.
Member Outcomes Statements are the result of comparing the product against similar superannuation products and assessing their performance in key outcome areas. These outcomes include investment risk and return; fees and costs; insurance claims; and the options, benefits and facilities offered to members such as administration, sustainability (as a measure of the ability to deliver optimal member outcomes in the future) and liquidity.
Each Statement contains our assessment of the product’s performance for each relevant outcome. Illustrated heat bars show where the product performance sits against key metrics for each of these outcomes. Detail is provided on these metrics and our commentary includes action items to improve performance.
Find your superannuation fund in the list below, and click through to find your product and to read your Member Outcomes Statement or view the recording of the Annual Member Meeting.
NOTE: Factory Mutual Insurance Company Superannuation Fund - The Fund was successor fund transferred on 29 April 2021