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NESS is professionally managed by five Trustee Directors. Two are member representatives, nominated by the Electrical Trades Union of Australia, NSW Branch (the ETU). Two are employer representatives, nominated by the National Electrical and Communications Association New South Wales chapter (NECA). An Independent Director is appointed by the other Directors.
They ensure that NESS is operated in accordance with its Trust Deed, Rules and superannuation related law, for the benefit of all its members. NESS is also required to comply with the terms of its ASIC and APRA licences.
NESS’ investment objectives are to provide strong, consistent returns for its seven investment options. The measure of a super fund is how it compares with others in the industry. NESS' return for its Balanced option of -11.9%, for the year ended 30 June 2009, is close to the median super fund performance for industry funds for the last financial year and reflects the second year of the global financial crisis.
The Directors provide NESS members with a range of benefits including Death and Salary Continuance insurance. A number of industry experts have been appointed to provide services such as investment advice, collection of arrears from employers, legal advice, financial advice to members, insurance and administration.
The Directors and Secretary, at 1 January 2010 were:
• Tony Glossop Chairman (NECA appointed)
• Steve Butler (ETU appointed)
• Russell Wilson (ETU appointed)
• Reg Young (NECA appointed)
• John McCrory Independent Director
• James Tinslay Alternate Director
• Philip Hirshbein Fund Secretary
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South Wales Electrical Superannuation Scheme Pty Ltd ABN 28 003 156 812 Disclaimer
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