AIST Governance

AIST’s draft governance code

AIST’s draft governance code – which goes beyond what is required by law and APRA’s prudential standards – is designed to firmly position profit-to-member superannuation funds at the leading edge of international best practice.

The code recognises that member representation is a key feature of leading pension funds around the world and that a host of factors contribute to good governance, including the skills and experience of individual directors, remuneration practices, board renewal, disclosure and transparency.

The code far exceeds any other industry code or principles in existence for superannuation funds.

Initial member consultation on the draft code is now complete and an updated draft was presented at the Conference of Major Superannuation Funds (CMSF) on 23 March 2017. AIST is currently in the process of reviewing the draft code based on our members’ feedback. You can see the most recent draft of the code here.

AIST members wishing to discuss the code further can contact AIST Research Officer, Jake Sims at jsims@aist.asn.au