Corporate governance refers to the system of controls, policies and processes used by a company to determine how it’s administered, its relationships with stakeholders, including shareholders, staff and members, and its accountability.
We’ve adopted principles for corporate governance that outline the framework under which the board and management carry out their duties and obligations. These principles are outlined in the Corporate governance policy statement.
Mine Super is a significant investor in the Australian and international investments market. The board has developed guidelines and principles to ensure investing is undertaken in accordance with best practice in the interests of Mine Super members.
Our Trustee is AUSCOAL Superannuation Pty Ltd (ABN 70 003 566 989) and is responsible for Mine Superannuation Fund’s management and investment decisions.
The Trustee’s job is to make sure Mine Super:
The Trustee is licensed by the Australian Prudential Regulation Authority, the government body that supervises the superannuation industry, to be a Trustee of a public offer superannuation fund.
The Australian Securities and Investments Commission has given the Trustee an Australian Financial Services Licence, number 246864, to provide general financial product advice on superannuation.
The Trustee is equally represented by both coal industry employees and employers, working together in the best interests of members and their families.
Mine Super's remuneration policy for management and Directors has been established to:
The remuneration disclosure outlines Mine Super's guiding principles for remuneration and the remuneration paid to Board members and management staff.
The Trust Deed is the Fund's rule book. It’s a legal document setting out how it's to be administered and takes precedence over anything contained in the Product Disclosure Statement, the website and other publications.
The Trustee is responsible for making sure the Fund is managed in accordance with the Trust Deed and for the protection of member's entitlements.
The Trust Deed includes the Fund's general governing rules and Trustee powers and contains schedules that outline the rules relating to fees and specific membership categories. The schedules are:
Our in-house investment team appoints professional investment managers to invest your money within strict guidelines.
We regularly review our investment managers' performance, remove managers and add new ones.
A summary of how, during the previous financial year, we’ve voted on resolutions in listed companies the Fund invests in.