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AustralianSuper
AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria. It is an industry super fund, and so operates through a mutual fund structure. With over 340 billion of retirement savings under management and more than 3.4 million members, AustralianSuper is the largest superannuation fund in Australia and the sixteenth largest pension fund in the world. History AustralianSuper was established on 1 July 2006 through the merger of Australian Retirement Fund (ARF) and Superannuation Trust of Australia (STA). Ian Silk, who was the CEO of ARF, became the CEO of AustralianSuper; while Mark Delaney, who was the CEO of STA, became the Deputy CEO and CIO of AustralianSuper. In June 2022, Labour Union Co-operative Retirement Fund (LUCRF) Super was merged into AustralianSuper. In September 2023, AustralianSuper invested $1.5 billion into Vantage Data Centres. Also in September, The Australian securities regulator issued a lawsuit against AustralianSuper, cl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Schroder
Paul Schroder (born ) is a former trade union official, and current chief executive of AustralianSuper, Australia's largest superfund by assets under management. Paul spent 20 years working in the Australian union movement before joining AustralianSuper. During this time he worked for the Finance Sector Union. in 2007 he joined AustralianSuper as the fund's general manager of business development. He later was promoted to the role of chief risk officer, prior to his appointment as chief executive of the fund in 2021 as the replacement for Ian Silk. His appointment to the role of AustralianSuper chief executive in 2021 was controversial. Journalists in The Age criticised the fund's decision to appoint him chief executive to replace Ian Silk instead of pursuing an international search process. Of the appointment, they said it 'did little to rescue the super sector's reputation as a storehouse for former Labor/union types'. As of 2023 his annual salary remuneration as the fund's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ian Silk
Ian Silk is an Australian business executive. Career Silk worked as a forklift driver briefly, before working as a senior state government public servant. His first role in the super industry was obtained with the assistance of Bill Kelty, secretary of the ACTU. He was later appointed chief executive of AustralianSuper, a role he held for 15 years. Under Silk's tenure, AustralianSuper's nominal funds under management grew from $21 billion to $225 billion. He took the fund from a 'small fry born of compulsory superannuation legislation in the 1990s to a major global player. Following his retirement from the super industry, Ian was appointed to the boards of Hawthorn Football Club and Crown Melbourne. His appointment to Crown was supported by its new owner, Blackstone. Personal life Silk has children. His brother Gary Silk was a victim of the Silk–Miller police murders. See also * Industry Super * Australian Labor Party The Australian Labor Party (ALP), also k ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industry Superannuation Fund
An industry superannuation fund (or, simply, 'industry fund') are Australian superannuation funds that historically were established by Australian trade unions to manage retirement savings for workers in their industry. Funds other than industry funds are referred to as ' retail funds'. Most, though not all, industry funds are member of the sector peak body Industry Super Australia. Nevertheless, all industry super funds have operation from inception through a not-for-profit, mutual fund structure. All profits from fund operations are retained by the fund membership, a fact prominent in marketing campaigns run by the peak body. Formerly, specific industry funds could only be joined and contributed to by employees working in the establishing union's corresponding industry. Following reforms, most fund memberships are not restricted in this way, instead being 'public offer funds' regulated by the Australian Prudential Regulation Authority. For circumstances relating to their ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Origin Energy
Origin Energy Ltd is an ASX listed public company with headquarters in Sydney. It is a major integrated electricity generator, and electricity and natural gas retailer. It operates Eraring Power Station, Australia's largest coal-fired power station, in New South Wales, which it plans to close in 2027. As of 2024, it plans to "minimise" its ownership of wind and solar power, to boost investor returns. It owns 20% of Octopus Energy, a UK renewable energy retailer. History Origin Energy was formed 18 February 2000, as a result of a spin-off from Boral. SAGASCO (formerly known as the South Australian Gas Company) became part of Origin Energy as part of the demerger. Between 2001 and 2002, Origin acquired a Victorian electricity retailer licence from distributors Powercor and CitiPower. In 2004, the SEAGas pipeline was completed, linking the Victorian and South Australian gas markets. During this time, Origin obtained 50% interest in the Kupe Gas Field and Edison Mission ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New Daily
''The New Daily'' is an online Australian newspaper founded in 2013, and owned by Industry Super Holdings, which represents industry superannuation funds. History ''The New Daily'' was started by AustralianSuper, Cbus and Industry Super Holdings in 2013. The venture was deemed controversial due to its ownership by non-profit superannuation funds (which are legally obliged to spend money in their members' best interests) regarding both the publication's commercial nature and its editorial independence. The founding editor was Bruce Guthrie. In 2016, it became wholly owned by Industry Super Holdings. The initial funding and investment of the entity was paid for using funds from those organisations, with justifications made by super-fund management that investing in the news site would be a worthwhile activity for super-fund members for a number of reasons. When the publication was launched, its owner AustralianSuper planned to force subscriptions from its members unless t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Superannuation In Australia
Superannuation in Australia, or "super", is a savings system for workplace pensions in retirement. It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement. Employers make compulsory payments to these funds at a proportion of their employee's wages. Currently set at 11.5%, from 1 July 2025, the mandatory minimum "guarantee" contribution is 12%. The superannuation guarantee was introduced by the Hawke government to promote self-funded retirement savings, reducing reliance on a publicly funded pension system. Legislation to support the introduction of the superannuation guarantee was passed by the Keating Government in 1992. Contributions to superannuation accounts are subject to a concessional income tax rate of 15%. This means that for most Australians, the tax on their earned income sent to a superannuation account is less than the income tax on earned income sent to their bank account. Australians c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension Fund
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides pension, retirement income. The U.S. Government's Social Security Trust Fund, which oversees $2.57 trillion in assets, is the world's largest public pension fund. Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold about USD$6 Trillion (short scale), trillion in assets. In 2012, PricewaterhouseCoopers estimated that pension funds worldwide hold over $33.9 trillion in assets (and were expected to grow to more than $56 trillion by 2020), the largest for any category of institutional investor ahead of mutual funds, insurance companies, currency reserves, sovereign wealth funds, hedge funds, or private equity. Classifications Open vs. closed pension fund ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MySuper
MySuper is part of the Stronger Super reforms announced in September 2011 by the Gillard Labor government for the Australian superannuation industry to replace the previous default funds system with a new default system using low cost and simple superannuation products. MySuper compliant products may be provided by industry super funds, as well as retail super funds. Funds that do not operate as default funds, such as self managed superannuation funds (SMSFs) or choice products, are not subject to MySuper standards. Since 1 January 2014, unless an employee has chosen another investment option, employers must pay all compulsory SG contributions into approved MySuper accounts, i.e., into super products that have received a MySuper authority. From that date, super funds must also credit employer contributions to a MySuper account, unless if the member has directed the trustee to do otherwise. Given that over 75% of employees stay with their employers’ default fund, it was expecte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Companies Established In 2006
Australian(s) may refer to: Australia * Australia, a country * Australians, citizens of the Commonwealth of Australia ** European Australians ** Anglo-Celtic Australians, Australians descended principally from British colonists ** Aboriginal Australians, indigenous peoples of Australia as identified and defined within Australian law * Australia (continent) ** Indigenous Australians * Australian English, the dialect of the English language spoken in Australia * Australian Aboriginal languages * ''The Australian'', a newspaper * Australiana, things of Australian origins Other uses * Australian (horse), a racehorse * Australian, British Columbia, an unincorporated community in Canada See also * The Australian (other) * Australia (other) * * * Austrian (other) Austrian may refer to: * Austrians, someone from Austria or of Austrian descent ** Someone who is considered an Austrian citizen * Austrian German dialect * Something associated with the coun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
News
News is information about current events. This may be provided through many different Media (communication), media: word of mouth, printing, Mail, postal systems, broadcasting, Telecommunications, electronic communication, or through the testimony of Witness, observers and witnesses to events. News is sometimes called "hard news" to differentiate it from soft media. Subject matters for news reports include war, government, politics, education, health, economy, business, fashion, sport, entertainment, and the Climate change, environment, as well as quirky or unusual events. Government proclamations, concerning Monarchy, royal ceremonies, laws, taxes, public health, and Crime, criminals, have been dubbed news since ancient times. Technology, Technological and Social change, social developments, often driven by government communication and espionage networks, have increased the speed with which news can spread, as well as influenced its content. Throughout history, people have ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kings Cross Central
King's Cross Central (''KXC'') is a mixed-use development in the north-east of central London. The site is owned and controlled by the King's Cross Central Limited Partnership. It consists of approximately of former railway lands to the north of London King's Cross railway station, King's Cross and St Pancras railway station, St Pancras mainline railway stations. The site is largely determined by three boundaries: the existing East Coast Main Line railway leading out of King's Cross; York Way, a road marking the division between London Borough of Camden, Camden and London Borough of Islington, Islington boroughs; and the new railway line, High Speed 1, High Speed 1 (HS1), formerly known as the Channel Tunnel Rail Link, which curves around the site to the north and west. The master planners for the development are Allies and Morrison, Demetri Porphyrios, and Townshend Landscape Architects. The overall developer is Argent LLP. Construction work is ongoing. History Background T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
