Update to our members about the Royal Commission
Earlier this month we advised you about policy breaches that were identified during our preparations for the Royal Commission.
This included behaviour by a staff member in relation to a conflict of interest and credit card use that breached our fund’s policies, and our values.
We can now advise that this individual’s role with CSF has been terminated. A broader investigation into how and why the behaviour was able to occur continues. We acknowledge that some of our processes and procedures were not followed, and independent experts at PwC are analysing why that happened and what needs to change.
We are sorry for these breaches and give you our commitment that processes will be strengthened to ensure our governance meets the highest standards. If you have any questions, please contact us on 1300 655 002.
We want to assure you that CSF continues to be the same high-performing fund, securing 12 consecutive Platinum Ratings from the independent SuperRatings agency as a best value for money super fund. We know governance is just as important as financial returns to our 75,000 members, and we are committed to delivering both.