Chief Executive

In 2008, UniSuper welcomed Terry McCredden, as our Chief Executive Officer. Like to know a little more about the man behind UniSuper? Find out here.

An interview with the Chief Executive Officer

June 2011

In 28 years you’ve seen the super industry come of age. Tell us about some of your most memorable experiences?

I entered the superannuation industry back in 1984, which was around the same time that UniSuper started.

I started out working as a Superannuation Administration Manager for the State Electricity Commission of Victoria. Back then, less than 40% of the workforce had super and those who did were generally public sector or white-collar workers.

Thankfully, some progressive legislative developments back in the 1980s lead to more workers receiving superannuation. As a result, in 1989 I had the opportunity to lead the development of a new superannuation scheme for the staff at Telecom (now Telstra), which would ensure equal benefits for both their blue and white-collar workers.

I served as Telstra Super’s Chief Executive Officer for 18 years. In 2008, I was presented with an opportunity to apply what I had learnt over those years to a new fund, in an industry sector that had long interested me – higher education and research. My wife is a Professor of Australian Literature at Deakin University which of course makes me even more interested!

What has been the biggest challenge for you in your time here?

Without a doubt, the GFC and market crash that came with it. Although we had experienced market volatility in the late 1990s and early 2000s with the Asian stock market collapse and bursting of the dot-com bubble, this was the first time since the 1987 crash that I had seen real fear on so many peoples’ faces. Younger members in particular had grown accustomed to seeing the stock market soar, and this was a brutal awakening. Many of our members were scared. I have to admit that I too felt rattled.

However, the strangely positive aspect to that period was that many members who hadn’t taken much interest in their super all of a sudden became interested, especially those who saw some significant negative returns, in some cases for the first time. So then as now, our aim was and continues to be to educate and empower members about their investments, to help them understand that market volatility is just a normal part of any investment cycle.

Post GFC, investment markets still face important challenges. However, UniSuper members can be confident that our Investment Committee and investment staff have in place excellent risk management strategies that they apply to investments. This has been proven over the long-term, where our investment options have performed strongly, particularly compared to many of our competitors.

If you had a single message for UniSuper members, what would it be?

The staff at UniSuper are very conscious that they are stewards of your retirement savings and we continue to do everything in our power to help you stay on track for retirement. Indeed, we encourage you to stay firm and informed in your investment choices. To help you with this, different advice services are available exclusively to our members. It’s just part of our commitment to helping you stay informed and in control. And remember, super is a long-term investment, and even if you have retired, your funds may still be invested for many years to come.

Whatever markets throw at us, we can assure you that the staff at UniSuper are doing everything they can to help you live comfortably in retirement for many years to come.