Super fund gets licence to serve wider Catholic community
The Catholic Superannuation Fund (CSF), the industry superannuation fund for Catholic education announced this week that it has been granted a Registrable Superannuation Entities (RSE) licence by the industry regulating body.
CSF is the first of the major Catholic and other Church superannuation funds in Australia to be granted its RSE licence and public offer status by the regulators.
CSF's Chief Executive officer, Mr Frank Pegan said that CSF will now be able to offer its superior superannuation and pension products and services to other individuals and organisations within the Catholic education sector and to the wider Catholic community.
"We are often approached by members of the Catholic school communities, such as the parents of students, who would like to join Catholic Super. This will be welcome news to them," he said.
Mr Dan Sexton, the Chairman of the Board of Directors of CSF stated that the licence was a long time coming, but was pleased with the achievement. "It shows that CSF has the APRA seal of approval. Our members can be confident that we act in their best interests in everything that we do."
The Melbourne based Catholic Superannuation Fund which started in 1971 has approximately $1.85 billion under management and has had an extremely successful 2005 financial year. Its default Balanced investment option ranked fifth in the SuperRatings survey, its Australian share option was ranked fourth and its international shares option was ranked first.
Until now CSF has primarily served staff in Catholic schools in Victoria, Tasmania and the Northern Territory, but with its licence extended to public offer status, CSF will now be able to fill an area of need in providing high quality superanuation and pension services within the wider community.
APRA grants RSE licence to Catholic Superannuation Fund (Catholic Superannuation Fund 14/11/05)
LINKS (not necessarily endorsed by Church Resources)
Catholic Superannuation Fund
16 Nov 2005