AustSafe Super is a non-profit fund, which has been established for the benefit of rural and associated industries. The Fund’s sponsoring organisations are AgForce Queensland, CANEGROWERS, Growcom (formally Queensland Fruit & Vegetable Growers) and the Australian Workers Union of Employees.
The Fund has been operating since 1988 and has established an impressive record of high returns credited to members. Over the 19 years to 30 June 2007 the average compound rate credited has been 11.53%. Our five-year average is 11.71%.
Past performance is no indiction of future performance.
AustSafe Super's very strong investment performance and low cost administration services have assisted members benefits to grow. Other options which enhance the services and choices available to our members include the following:
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Generous insurance arrangements. Members can have up to seventeen units of Death or Death and Disablement cover (subject to a maximum insured cover of $500,000 or $750,000 for white collar workers). Members who transfer from another fund are able to transfer their cover from the previous fund without the hassle of having to provide medical evidence. |
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Salary Continuance Insurance (optional to all Full Time and Permanent Part Time members who work at least 20 hours per week) |
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Availability of member home loans |
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Member Investment Choice |
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Employer On-line for the payment of contributions via the internet, in conjunction with a direct debit facility from employer bank accounts |
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Member On-line for access by members to their account balance and other information via the internet. |
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Choice of Allocated Pension and or Market Linked Pension. |
In addition to our historically high crediting rates, our low cost structure provides an ideal means for our members to fund a healthy retirement nest egg. As mentioned above, AustSafe Super has been established for the rural and regional industries and its performance to date, in conjunction with the improved services to members, certainly makes it the premier rural superannuation fund.
I am pleased to present the 2007 Annual Report for AustSafe Super.
Following another 12 months of strong investment performance, AustSafe Super has provided excellent investment returns for members. The final crediting rates for the financial year ended 30 June 2007 are as follows:
The crediting rate for the balanced option, the option chosen by most members, is a strong return at 17.40%. The 5 year average compound rate for the balanced option is 11.71% per annum
AustSafe Super continues to grow, with more than $660 million in funds under management. During the past year, Austsafe has adopted an Australia-wide focus and has concentrated on increasing and enhancing our services to members and employers.
As part of this business review, I am pleased to announce that from 1 November 2006, our investment options for members will be significantly increased with the launch of specific sector options for Australian Equities, International Equities, Fixed Interest and Property.
These new options, when combined with our existing portfolios, will essentially give members unlimited choice to develop their own investment strategy.
We have also negotiated improved insurance arrangements which will result in a 20% reduction in premiums for death and TPD insurance and a 10% reduction in salary continuance premiums. The premium reductions will apply from 1 January 2007, and will also include a new white-collar insurance scale.
In addition to maintaining good crediting rates to members it is just as important for AustSafe Super to enhance our products and services to members. We are pleased to announce the following new products and services available to members:
Full details of these product changes are provided separately.
I sincerely thank my fellow directors, advisors, and our professional staff for their exceptional efforts and commitment to AustSafe Super.
And of course, on behalf of all at AustSafe Super, I thank our members and employers for their continued loyalty and support.
Sir Leo Hielscher AC
Chairman, AustSafe Super
Elsewhere in this website (How AustSafe Super invests your money and Member Investment Choice) you can access the investment details of each of the investment options and you are reminded that, at your discretion, you are able to switch between funds and thus take advantage of an investment strategy that best suits your particular needs.
The Trustee of your fund is AUSTSAFE Pty Ltd (ABN 96 010 528 597). The Trustee is responsible for ensuring that the Fund meets all current laws that apply to superannuation funds. In addition, it manages the investment of its members’ funds and ensures that the ongoing operation of the fund is carried out in the best interests of members.
The Board of Directors of AUSTSAFE Pty Ltd consists of three employer representatives, three employee representatives and an Independent Chairman. The Directors are appointed by the Fund’s sponsoring organisations:
Australian Workers Union of Employees -
Mr Robert Boscacci
Mr Edward Brischke
Mr Garry Ryan
CANEGROWERS -
Mr Ian Ballantyne
AgForce - Industry Union of Employers -
Mr Geoff Trollip
Growcom -
Mr John Bishop
Independent Chairman -
Sir Leo Hielscher
Chief Executive Officer -
Mr Craig Stevens
Secretary -
Leanne Power
Business Development and Marketing Manager -
Mr Wayne Hulin
South QLD Member Services Manager -
Mrs Monique Nugent
There are many other organisations and associations that support AustSafe Super throughout Queensland and Australia.