NGS Super
| File:Logo-header-ngs.svg | |
| Non-Profit | |
| ISIN | 🆔 |
| Industry | Industry superannuation |
| Founded 📆 | |
| Founder 👔 | |
Area served 🗺️ | |
Key people | Laura Wright, CEO |
| Products 📟 | Superannuation |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
NGS Super is an Australian industry superannuation and pension fund, established under a trust deed by the Independent Education Union (NSW), the Association of Independent Schools (NSW) and the Catholic Schools Hierarchy (NSW) on 1 July 1988. As at July 2020, NGS Super had 117,824 members and total assets were valued at approximately $11.7 billion.[1]
History
NGS Super merged with the Independent Schools Superannuation Trust (ISST) SA in July 2005.[2] This added a significant number of members and was the first venture outside New South Wales. In 2006, the South Australian Catholic Staff Fund (defined benefit) rolled into NGS Super, adding to the Fund’s ability to administer a defined benefit scheme, and NGS Super obtained its APRA licence – RSE.
In February 2018 Laura Wright was appointed Acting CEO and then officially appointed CEO[3] by the Board on 26 September 2018, making her the fifth CEO in NGS’s history.
In May 2019, NGS Super merged with QIEC, increasing member numbers and funds under management.[4] In August 2020, NGS Super announced they would merge with Catholic Super to form a consolidated $21 billion industry fund,[5] representing the community and non-government education sectors.[6]
Services
As an industry superannuation fund, NGS Super is run only to benefit members. It is authorised to accept default contributions from an employer for employees who haven't nominated a superannuation fund.
As at June 2019, NGS Super managed over AU$11 billion in retirement savings. It has investments across a large range of assets, including global infrastructure and healthcare technology.
In addition to the default diversified (MySuper) investment option, NGS Super members can choose from a number of investment options, including sector-specific investments such as Australian and international shares, bonds, property, infrastructure and cash.[7]
NGS Super announced in March 2021 their mission to have a carbon neutral investment portfolio by 2030. Their plan to reach net zero emissions by 2030 will partly be achieved by increasing engagement with high emitting companies to encourage them to transition into sustainable operations.[8]
References
- ↑ "NGS Super Fund Overview". www.superguide.com.au.
- ↑ "ISST Merger". superfriend.com.au.
- ↑ "NGS Super Appoints CEO". industrymoves.com.
- ↑ "QIEC Merger". www.investordaily.com.au. 5 April 2018.
- ↑ "Big Fund Merger". ioandc.com. 23 August 2020.
- ↑ "Catholic Super Merger". www.investmentmagazine.com.au. 18 August 2020.
- ↑ "NGS Investment Options". www.ibisworld.com.
- ↑ Druce, Lucy Battersby, Alex (March 16, 2021). "As it happened: Tech, health stocks lead ASX to highest in three weeks". The Age.
External links
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