Key governance documents

Governance Framework

The Governance Framework sets out the Trustee’s commitment to best practice corporate governance and addresses the main governance policies, principles and processes in effect, including risk management and compliance, financial reporting and the Fund investment model.

The Governance Framework includes oversight of the systems, people, policies, processes and skills underpinning accountability within the Trustee. As such, the Governance Framework supports us to make objective and transparent decisions which are in the best interests of Fund members.

Board charter

The Board Charter (PDF, 227 KB) sets out the authority, responsibilities and operation of the Trustee Board in its capacity as trustee for the Fund.

The Charter also guides and informs the Directors about their responsibilities and authorities when conducting the day to day business of the Board.

Board Appointment and Renewal

The Board Appointment and Renewal Policy (PDF, 474 KB) sets out the detailed processes for the skills-based nomination, selection and appointment of Employer Directors, Member Directors and Independent Directors.  

As a general principle, Directors are appointed for four year terms and have a maximum tenure of 12 years. 

The Board Appointment and Renewal Policy also sets out the approach taken to manage Board renewal, while recognising the benefits of continuity of knowledge on the Board, our obligations under the APRA Prudential Standards, and the equal representation principles in the Superannuation Industry (Supervision) Act (the Act). 

In addition, this Policy provides the framework for the regular assessment of the performance of the Board as whole, Board Committees and Directors individually.

Conflict Management

Conflicts must be properly managed in order to comply with the Trustee’s fiduciary responsibilities, relevant legal obligations and appropriate standards of corporate governance.

The proper management of conflicts requires the early identification of potential, actual and perceived conflicts, and the use of strategies to avoid or manage the conflict, so as to effectively eliminate or minimise the risk that a conflict might adversely affect the members and beneficiaries of the Fund, and the quality and integrity of the Trustee’s decisions and the financial services provided.

The Conflicts Management Policy (PDF, 518 KB) documents the arrangements in place for managing situations giving rise to actual, potential and perceived conflicts of interest and conflicts of duty (conflicts) for Responsible Persons[1] and employees of the Trustee. The Conflicts Management Policy sets out the Trustee’s controls and processes for:

  • identifying and monitoring conflicts;
  • assessing and evaluating those conflicts;
  • deciding upon and implementing a response to those conflicts;
  • managing those conflicts in accordance with the requirements to give priority to the duties to, and interests of, members and beneficiaries;
  • maintaining a record of all identified conflicts and the action taken to avoid or manage them; and
  • maintaining and disclosing the Register of Relevant Conflicts, which records all relevant interests and duties of the Trustee’s Responsible Persons.

Further, the Conflicts Management Policy is intended to ensure that where a conflict cannot be avoided:

  • The duties to, and interests of, members and beneficiaries receive priority over any duties to, and interests of other persons;
  • The duties to members and beneficiaries are met despite the conflict; and
  • The interests of members and beneficiaries are not adversely affected by the conflict.

The trustee has a Register of Relevant Interests and Duties (PDF, 219 KB).

Please note that during the 2018/2019 year, CSF Pty Limited (ABN 30 006 169 286; AFSL 246664) was the trustee of the Fund, but since 21 October 2019 the trustee is now Togethr Trustees Pty Ltd (ABN 64 006 964 049; AFSL 246383). CSF Pty Limited acts as Trustee of the Fund and did not trade in its own right during the year ended 30 June 2019. No significant change in the nature of this activity occurred during the year, for details refer to the Trustee’s annual financial statement (PDF, 3.4 MB) for the year ended 30 June 2019.

 


[1] A ‘Responsible Person’ of the Trustee is:
- A Director of the Trustee
- An Executive Officer of the Trustee
- The External Auditor, who is appointed to conduct an audit of the Funds
- An Actuary appointed by the Trustee to perform an actuarial function
- A Company Secretary of the Trustee
- A person who performs activities for a connected entity of the Trustee where those activities could materially affect the whole, or a substantial part, of the Trustee’s business operations, or its financial standing, either directly or indirectly
- Any other person determined by APRA, in writing, to play a significant role in the management or control of the Trustee, or whose activities may materially impact on the interests, or reasonable expectations, of beneficiaries, or the financial position of the Trustee or the Fund.