Industry associations merge

Two superannuation associations are joining forces to actively engage in thought leadership, shape policy and drive the industry forward.

Industry Funds Forum (IFF) has now become part of the Australian Institute of Superannuation Trustees (AIST).

IFF comprises 18 chief executives of large industry superannuation funds with the aim of influencing public policy for the benefit of members.

IFF chair Julie Lander said the merger will enable its member chief executives to engage with a wider group of profit-to-member fund chief executives within the AIST structure to discuss issues impacting the industry and funds.

Notable projects IFF has been involved with include the SuperStream data standards, the Insurance in Superannuation Working Group and Future of Financial Advice (FoFA) reforms.

"The opportunities to liaise directly with representatives of the regulators had also brought about improved understandings and practical implementation of new regulations and guidelines for all parties," she said.

AIST chief executive Eva Scheerlinck said the association has a long history of collaboration with IFF.

Scheerlinck added she looks forward to working more closely with the chief executive officers of Australia's largest industry super funds.

"IFF is a natural fit with AIST's policy and research work as well as our peer-to-peer professional development programs," Scheerlinck said.

AIST will be holding its first chief executive forum on December 7 in Melbourne.

In light of the banking Royal Commission announced yesterday, AIST said broadening the scope to include superannuation was an "unnecessary measure and a waste of taxpayer money."

Scheerlinck said: "It is disappointing that the Government is seeking to deflect from the real and systemic problems plaguing the big four banks, by including the superannuation system in this inquiry."

She added there is no evidence of gouging, fraud or unethical behaviour to warrant a Royal Commission into the superannuation industry.

Read more: AISTIFFRoyal CommissionAustralian Institute of Superannuation TrusteesEva ScheerlinckFuture of Financial AdviceIndustry Funds ForumJulie Lander
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