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Governance

Prime Super is an independent super fund run to benefit members. Our corporate governance is designed to protect the interests of members, while also taking into account the interests of other stakeholders, including employers and the community.

Corporate governance

Prime Super Pty Ltd (ABN 81 067 241 016 AFSL No. 219723) is the Trustee of Prime Super and Prime Super is governed and managed by the Trustee Board.

The Board represents the interests of members in accordance with the Trust Deed and superannuation law. The Board is also responsible for the overall governance and strategic direction of Prime Super with the financial growth and security of our members' super savings.

Governing rules

Prime Super is governed by a number of documents that set out the rules relating to how the Fund operates and is run. These include:

Trustee constitution 

Prime Super Pty Ltd has a constitution which, along with the Trust Deed, forms the governing rules for the Fund and the Trustee. Among other things, the constitution sets out the rules for the appointment and removal of directors and the filling of casual vacancies on the Board.

Board composition

Prime Super has a majority independent board and keeps a register of relevant interests and duties for each of our directors. The Fund has procedures in place for the nomination, appointment, and removal of Trustee directors. The Board also has the following committees to which have particular areas of focus.

  • View our board's committees
    Investment committee

    Gerard Parlevliet (Chair)
    Gemma Dooley

    Bev Durston

    Matthew Scholten
    Audit, compliance & risk committee (ACRC)

    Allison Harker (Chair)
    Jacqueline Kelly

    Stuart Read

    Ronnie Hayden
    Remuneration & nominations committee

    Jacqueline Kelly (Chair)
    Nigel Alexander

    Gemma Dooley

    Stuart Read
    Member engagement & services committee

    Matthew Scholten (Chair)
    Nigel Alexander

    Bev Durston

    Allison Harker

    Ronnie Hayden

Service providers

Prime Super outsources a number of functions including administration of member accounts and insurance to third parties. 

  • View our key service providers
    Outsourced Service Service provider ABN 
    Actuary Mercer (Australia) Pty Ltd 32 005 315 917
    Administrator MUFG Retirement Solutions 62 003 429 114
    Custodian Citigroup Pty Limited 88 004 325 080
    External auditor Ernst & Young 75 288 172 749
    Insurer TAL Life Limited 70 050 109 450
    Internal auditor PricewaterhouseCoopers (PwC) 52 780 433 757
    Investment advisors Patrizia 68 008 636 717

Policies

Key policies

Conflicts management policy

The Trustee's Conflicts Management policy sets out procedures to identify and deal with potential and actual conflicts of interest that may arise in relation to Prime Super. View our summary of the Conflicts Management policy.

ESG and Climate change policies

Prime Super has ESG and Climate change policies that outline our stance on environmental, social and governance factors. View our ESG policy and our Climate change policy.

Proxy voting policy

Prime Super takes a strong interest in the corporate governance practices within the companies in which it invests members' funds. Accordingly Prime Super, as a shareholder, actively exercises the right to vote on various company-related matters for those companies in which shares are held directly. The process is governed by the Proxy voting policy developed by the Fund.

Proxy voting enables shareholders to vote on proposals influencing a company's operations including changes that are aimed at generating better financial outcomes, the election of directors, governance matters, and the remuneration of directors and executives.

The Fund Trustee votes on all company resolutions of the Fund's Australian shares. The Trustee will vote on these resolutions through a combination of votes cast directly by the Trustee, and votes cast by Investment Managers on behalf of the Trustee. Where votes are cast by an Investment Manager on behalf of the Trustee, the Trustee ensures that its voting intentions are appropriately registered, including by overriding the voting instruction of the Investment Manager if required. View a summary of our recent votes.

Disclosures