The ASIC report into death benefit claims revealing the devastating impact of poor industry practices on grieving Australians has again highlighted the pressing need for change. While some funds have taken up the cudgels, others are still playing hardball on improving their service offering.
A Retirement Income Covenant obligation notwithstanding, there is still a paucity of these complex products on offer. The Advice Through Superannuation draft legislation might offer a way forward.
Rest boosts board with Bolger
Catherine Bolger will join the board of Rest as a nominated director of the Shop Distributive and Allied Employees Association and replaces Julia Fox, who retired from the board in May 2024.
Bolger has more than two decades of experience as a director and in unions and brings to the Rest board “financial, governance, member experience and advocacy skills” in superannuation, not-for-profit and government environments.
“Catherine is a highly respected director who is passionately committed to the profit-to-member superannuation sector and has a strong focus on improving the retirement outcomes for working people,” said Rest chair James Merlino. “We are fortunate to have Catherine join the Rest board where her skills and experience will directly benefit Rest’s two million members.”
Bolger is currently a director of State Super and the Centre for Workers Capital, as well as a trustee of Unions NSW and a director of Professionals Australia, a union representing more than 20,000 professional employees across Australia. She is also a former president of the Australian Institute of Superannuation Trustees (AIST), and played an “important role” in the creation of the Super Members Council of Australia, which was formed by the merger of AIST and Industry Super Australia.
Bolger also chaired the Australian Council of Trade Unions working group responsible for developing guidance for investors and asset managers on supporting a just transition for workers.
“I am delighted to be joining the Rest board,” Bolger said. “I have long been an advocate for better work and retirement outcomes for working people and I look forward to supporting Rest’s mission to make super simple for more than two million working Australians.”
