Industry superannuation

Industry superannuation

Industry superannuation funds in Australia refer to the group of retirement superannuation funds managed by industry bodies and unions. These funds are almost all public-offer funds, although most had their genesis as closed shop funds only open to members of the union or industry body to which they relate. An example is Cbus superannuation, which was the building industry superannuation fund but is now open to all and legalsuper, which is the superannuation fund for the legal profession.

Unlike many insurance company and bank super funds, industry funds are not in business to make a profit for shareholders. Industry funds are non-profit, designed exclusively for the benefit of members and governed by trustees representing employers and employees within the industry.

With the introduction of Super Choice legislation in 2005, anyone eligible to choose can consider joining an Industry Super Fund.

ee also

*Superannuation in Australia


Wikimedia Foundation. 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • Superannuation in Australia — Total superannuation industry assets at the end of the financial year 1996 2006 …   Wikipedia

  • Superannuation Complaints Tribunal — The Superannuation Complaints Tribunal is an independent statutory body established by the Australian Government to deal with complaints about superannuation (and certain life insurance annuities). HistoryThe Superannuation Complaints Tribunal… …   Wikipedia

  • industry fund — /ˈɪndɔstri fʌnd/ (say indawstree fund) noun a not for profit superannuation fund run jointly by the unions and employers in an industry, but nevertheless open to people outside the industry …  

  • Virgin Superannuation — is a superannuation, or pension fund, offered by Virgin subsidiary Virgin Money. In AustraliaIn Australia, Virgin Superannuation is operated by Macquarie Fund Manager. Unlike many other funds, it does not offer an automatic insurance protection… …   Wikipedia

  • Royal Commission into the Building and Construction Industry — The Royal Commission into the Building and Construction Industry (2001 2003) was a Royal Commission established by the Australian government to inquire into and report upon alleged misconduct in the building and construction industry in Australia …   Wikipedia

  • Nick Sherry — Senator The Honourable Nick Sherry Minister for Small Business Incumbent …   Wikipedia

  • List of Western Australian government agencies — *Abalone Management Advisory Committee *Aboriginal Affairs Co ordinating Committee (currently inactive) *Aboriginal and Remote Communities Power Supply Project Steering Committee *Aboriginal Cultural Material Committee *Aboriginal Economic… …   Wikipedia

  • List of Western Australian courts and tribunals — Courts= *Coroner s Court of Western Australia *District Court of Western Australia *Magistrates Court of Western Australia *Supreme Court of Western Australia *Western Australia Industrial Relations Commission*Industrial Magistrates Court… …   Wikipedia

  • Australian Prudential Regulation Authority — Infobox Company company name = Australian Prudential Regulation Authority company company type = Statutory authority foundation = July 1, 1998 location = flagicon|Australia Sydney, Australia num employees = 580 jurisdiction = Finance and… …   Wikipedia

  • Cbus — Infobox Company company name = Cbus company company type = Public non profit company slogan = None foundation = 1984 location = Casselden Place, Level 28, 2 Lonsdale Street, flagicon|AUS Melbourne, Australia key people = David Atkin, CEO Ralph… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”