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Committees

Here’s a brief summary of UniSuper’s committees and their functions.

Committees

UniSuper's committees support and provide direction to the Board in the management and strategic direction of UniSuper.

  • The Consultative Committee consents to amendments to the Trust Deed and elects people to be appointed as directors of the Board of the Trustee.
  • The Board Committees include the:
    • Audit and Compliance Committee
    • Remuneration Committee
    • Claims Review Committee
    • Membership Committee, and
    • Investment Committee.

Consultative Committee

The Consultative Committee is the voice of our members. It approves amendments to the Trust Deed and elects the directors of the Board of the Trustee.

Shareholder universities each appoint up to four members to the Consultative Committee. Half the members represent the employers, the other half represents, equally, academic staff and general staff.

At 30 June 2008 the Consultative Committee had 133 members and there were five vacant positions.

Board Committees

Our committees consist mainly of directors, who report to each Board meeting.

Audit and Compliance Committee

Chair: W. Snell
Members: E. Bryan, D. Carey, P. Mullooly
Independent Member: D. Percival

 Ensures that UniSuper:
  • observes high standards of business behaviour and ethics
  • complies with all legal and regulatory requirements, and
  • provides assurance regarding the quality and reliability of financial information.
Remuneration Committee

Chair: TBA
Members: E. Bryan, C. Cuffe, M. Peacock
  • Makes recommendations to the Board about the remuneration of the Chief Executive and the fees and other benefits provided to Directors.
  • Approves and monitors Performance Management Programs for senior executives and investment staff.
Membership Committee

Chair: T. Murphy
Members: Prof. J. Reid, P. Mullooly
  • Provides advice to the Board on improvements to member and employer services and communications.
  • Advises the Board on the development and implementation of public policy in the area of retirement savings.
  • Ensures all issues relating to determinations and payments of benefits and complaints are dealt with promptly and fairly by management and by the Fund's internal review procedures.
Claims Review Committee

Chair: T. Murphy
Members: P. Murphy, V. Abbott
Independent member: Dr R. M. McLellan (Consultant physician)

 

Monitors:

  • disablement and temporary incapacity claims
  • distribution of death benefits, and
  • members' complaints in relation to claims.

Consultant physician, Dr R. McLellan, assists the Committee in the assessment of claims.
Investment Committee

Chair: M. Peacock
Members: E. Bryan,  Prof. M. Skully
Independent members: G. Dunstan, C. Macek, B. Bonyhady,
Chief Investment Officer: D. St. John

 

Invests Fund assets in a manner consistent with the investment objectives set by the Board, including investment policy, investment strategy, asset allocations, investment performance, and the appointment and monitoring of investment managers.

Each year an independent consultant reviews the Committee's performance and reports to the Board.

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