AustralianSuper is an Australian

superannuation A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments ...

fund headquartered in

Melbourne Melbourne ( ; Boonwurrung/Woiwurrung: ''Narrm'' or ''Naarm'') is the capital and most populous city of the Australian state of Victoria, and the second-most populous city in both Australia and Oceania. Its name generally refers to a metr ...

Victoria Victoria most commonly refers to: * Victoria (Australia), a state of the Commonwealth of Australia * Victoria, British Columbia, provincial capital of British Columbia, Canada * Victoria (mythology), Roman goddess of Victory * Victoria, Seyche ...

. With approximately one in every ten Australian workers as members, it is Australia's largest superannuation fund. AustralianSuper is an

industry superannuation An industry superannuation fund (or, simply, 'industry fund') is an Australian superannuation fund originally established to provide for the retirement of workers from a specific industry. While industry funds are no longer tied to specific in ...

fund run only to profit members. AustralianSuper has a

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 ...

authority, meaning it can accept default contributions from an employer on behalf of employees who have not nominated a superannuation fund. AustralianSuper also offers a 'Member Direct' option, allowing users greater control in selecting a portfolio of Australian shares, ETF's, term deposits and cash. AustralianSuper is owned by the

Australian Council of Trade Unions The Australian Council of Trade Unions (ACTU), originally the Australasian Council of Trade Unions, is the largest peak body representing workers in Australia. It is a national trade union centre of 46 affiliated unions and eight trades and la ...

(ACTU) and employer peak body the Australian Industry Group (Ai Group).

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 A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especiall ...

of ARF, became the CEO of AustralianSuper; while Mark Delaney, who was the CEO of STA, became the Deputy CEO and CIO of AustralianSuper. As of 2017, AustralianSuper had more than 120

billion Billion is a word for a large number, and it has two distinct definitions: *1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is its only current meaning in English. *1,000,000,000,000, i. ...

assets invested around the world, including shares, transport infrastructure, office blocks, and shopping centres; including two-thirds of London's Kings Cross Central development. As of June 2018, AustralianSuper was managing approximately 140 billion for 2.2 million members, growing to 155 billion in May 2019. In June 2022, Labour Union Co-operative Retirement Fund (LUCRF) Super was merged into AustralianSuper.

References

External links

* {{Official website Australian companies established in 2006 Financial services companies established in 2006 Superannuation funds in Australia

History

See also

References

External links