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Home About Governance

Governance

We operate with full transparency. Our Board includes respected members of the legal community, committed to a rigorous governance structure to maintain thoroughness & accuracy.

Organisational structure

The Board of legalsuper is responsible for the overall strategic direction.

Our Board includes respected members of the legal community. A rigorous governance structure and set of processes ensures we maintain thoroughness and accuracy. We operate with full transparency and are committed to maintaining the quality of our offering.

Our Board has 10 Directors including an Independent Chair who is appointed by the Board. The other nine Directors are nominated by the following organisations. For detailed information regarding the process for the nomination, appointment, renewal and removal of Directors please refer to the Constitution of Legal Super:

Constitution of Legal Super Pty Limited (260.87 KB)
Independent Chair
 (An independent Director nominated by the Board)
5 Member Directors
Nominated by
4 Employer Directors
Nominated by
I  I Australian Services Union
(Victorian Private Sector
branch)
I I Law Society of
New South Wales
I I United Services Union I I Law Institute of Victoria
I Victorian Bar Inc.
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As at 17 October 2022, the following persons are Directors of Legal Super Pty Ltd as trustee for legalsuper:

NamePosition heldDate appointed
Kirsten ManderIndependent Director, Chair of the Board15 December 2017
Andrew BoogEmployer Director28 April 2017
Richard FlemingEmployer Director27 May 2016
Richard FlitcroftEmployer Director31 March 2019
Adam AwtyEmployer Director31 March 2021
Imogen SturniMember Director31 March 2019
James Peters AM KCMember Director30 June 2021
Kamal FarouqueMember Director21 September 2022
Daniel PappsMember Director11 October 2022
Mary MackenMember Director17 October 2022


The following appointments, retirements or resignations occurred during 2022/23:

  • Anastasia Polites retired as Member Director, effective 29 July 2022
  • Carita Kazakoff retired as Member Director, effective 2 September 2022
  • Kamal Farouque was appointed as Member Director, effective 21 September 2022
  • Nikhil Mishra retired as Member Director, effective 13 October 2022
  • Daniel Papps was appointed Member Director, effective 11 October 2022
  • Mary Macken was appointed Member Director, effective 17 October 2022

The following appointments, retirements or resignations occurred during 2020/21:

  • Emma Maiden retired as Member Director, effective 20 September 2020
  • Anastasia Polites was appointed as Member Director, effective 21 September 2020
  • Geoff Hone retired as Employer Director, effective 31 March 2021
  • Adam Awty was appointed as Employer Director, effective 31 March 2021
  • Phil Kennon QC retired as Member Director, effective 09 June 2021
  • James Peters AM KC was appointed as Member Director, effective 30 June 2021

The following appointments, retirements or resignations occurred during 2019/20:

  • Chris Joyce retired as Member Director effective on 31 March 2020
  • Nikhil Mishra was appointed as Member Director effective on 31 March 2020

The following appointments, retirements or resignations occurred during 2018/19:

  • Vicki Rogers retired as Member Director effective on 31 March 2019
  • Coralie Kenny retired as Employer Director effective on 31 March 2019
  • Richard Flitcroft was appointed as Employer Director effective on 31 March 2019
  • Imogen Sturni was appointed as Member Director effective on 31 March 2019


The following persons are members of the Executive Management team of Legal Super Pty Ltd as trustee for legalsuper:

NamePosition heldDate appointed
Kaye Wheatley-BrownExecutive Manager, Legal, Risk & ComplianceJanuary 2017
Norman ZhangChief Investment OfficerMarch 2020
Jessica LancashireExecutive Manager, People & CultureAugust 2021
Carrie NormanChief Member OfficerMarch 2022
Luke SymonsChief Executive OfficerApril 2023
Michael GogorosisChief Financial OfficerNovember 2023

The following appointments, retirements or resignations occurred during 2023/24:

  • Trevin Erichsen ceased employment as Chief Operating Officer effective on 16 August 2023
  • Michael Gogorosis was appointed Chief Financial Officer effective on 27 November 2023

The following appointments, retirements or resignations occurred during 2022/23:

  • Trevin Erichsen was appointed Chief Operating Officer effective on 12 September 2022
  • Andrew Proebstl ceased employment as Chief Executive Officer on 23 November 2022
  • Luke Symons was appointed Chief Executive Officer effective on 11 April 2023

The following appointments, retirements or resignations occurred during 2021/22:

  • Jessica Lancashire's title changed from Manager, People & Culture to Executive Manager, People & Culture effective 31 August 2021
  • Carrie Norman was appointed Chief Member Officer effective on 29 March 2022
  • David Eastwood ceased employment as Executive Manager, Operations and Member Services effective on 8 April 2022

The following appointments, retirements or resignations occurred during 2020/21:

  • Patsy Mullen-Conolly ceased employment as Executive Manager, Member Experience effective on 16 July 2020
  • Carrie Norman was appointed as Executive Manager, Member Experience effective on 14 September 2020

The following appointments, retirements or resignations occurred during 2019/20:

  • Edward Smith resigned as Chief Investment Officer effective on 26 September 2019
  • Norman Zhang was appointed as Chief Investment Officer effective on 3 March 2020

Board and Committee Charters & Membership

Board Charter

Board Charter (160.11 KB)


Remuneration & Nomination Committee Charter

Remuneration & Nomination Committee Charter (170.9 KB)


Board Committee membership

Administration and Insurance Committee

Responsible for overseeing the fund administrator, member insurance arrangements, and the operating cost budget.

Chair:

  • Adam Awty

Members:

  • Andrew Boog
  • Daniel Papps

Audit, Risk & Governance Committee

Responsible for the financial reporting framework, both internal and external audit, the Risk Management Framework, and oversight of compliance with the legislative, prudential and regulatory obligations of the Trustee.

Chair:

  • Richard Flitcroft

Members:

  • Mary Macken
  • Imogen Sturni

Investment Committee

Responsible for overseeing implementation of the investment strategy, advising the Board on the design of investment options including the risk and return objectives and strategic asset allocation; investment policy; and the appointment or termination of the Custodian or Asset Consultant.

Chair:

  • Richard Fleming

Members:

  • Kamal Farouque
  • James Peters

External Investment expert:

  • Joe Fernandes

Remuneration & Nomination Committee

Responsible for making annual recommendations to the Board on the remuneration of the senior executives and others in accordance with the Board’s Remuneration Policy; and determining the processes for the interview of nominees for the role of Director and making a recommendation to the Board.

Chair:

  • Kirsten Mander

Members:

  • Andrew Boog
  • Adam Awty

Board meeting attendance records


Board Meeting Attendance for Financial Year



Financial years ending 30 June 2023 2022 2021 2020 2019 2018 2017 Date Appointed Date Retired
Meetings held 8 10 8 11 7 7 7
Meetings attended
David A. Miles AM N/A 7 01/08/2005 15/12/2017
Kirsten Mander 8 10 8 11 7 5 15/12/2017
Ros Everett 5 20/06/2013 31/03/2017
Geoff Hone 5 11 6 7 7 20/01/2010 31/03/2021
Phil Kennon QC 7 11 6 7 7 09/06/2009 09/06/2021
Chris Joyce 5 7 7 7 28/02/2005 31/03/2020
Emma Maiden 2 11 7 7 6 29/09/2008 20/09/2020
Vicki Rogers 4 7 6 18/10/2002 28/03/2019
Linda White 5 24/08/1993 31/03/2017
Richard Fleming 8 10 8 11 6 7 6 27/05/2016
Coralie Kenny 5 6 7 27/05/2016 28/03/2019
Andrew Gerrit Boog 8 10 8 9 6 7 1 28/04/2017
Carita Kazakoff 9 8 11 7 7 2 27/04/2017 02/09/2022
Imogen Sturni 8 10 8 11 1 16/04/2019
Richard Flitcroft 7 10 8 11 1 16/04/2019
Nikhil Mishra 9 8 5 31/03/2020 13/10/2022
Anastasia Polites 10 6 21/09/2020 29/07/2022
Adam Awty 7 10 3 31/03/2021
James Peters AM KC 8 9 30/06/2021
Mary Macken 5 17/10/2022 
Kamal Farouque 7 21/09/2022 
Daniel Papps 6 11/10/2022 
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*Attendance at out of schedule meetings are not included in this table.

Remuneration disclosures

Directors remuneration disclosures

Director performance evaluation & review 

The Board has adopted a number of formal process to review and monitor its ongoing performance, including: 

a) Each Director has a position description which sets out key performance indicators. 

b) Each year the Independent Chair meets with each Director to discuss the operation and effectiveness of the Board. 

c) The Independent Chair reports her findings from these discussions to the Board. 

d) The Board assesses the performance of the Independent Chair. 


Director remuneration

  • The Independent Chair’s remuneration is determined by the Board. 
  • The remuneration of Directors other than the Chair of the Board is approved by the stakeholders of legalsuper. 
  • Remuneration is indexed annually for a cost of living adjustment. 
  • Travel, accommodation and other incidental costs associated with the Directors’ roles are paid or reimbursed by legalsuper. 
  • The remuneration paid to individual Directors differs, reflecting that some Committees meet more often than others and the Chair of each Committee is paid an additional amount for the extra work involved. 

Remuneration is paid directly to individual Directors unless stated otherwise.
The remuneration paid to each Director in each of the past four financial years was as follows:

Director2019/2020 2019/2020 2019/20202020/20212020/20212020/20212021/20222021/20222021/20222022/232022/232022/23
 $Salary$Super $Total$Salary$Super$Total$Salary$Super$Total$Salary$Super$Total
Richard Fleming52,1034,95057,05352,1034,95057,05354,0835,40859,49157,3826,02563,407
Emma Maiden*42,6304,05046,68014,9531,42116,374------
Phil Kennon, QC*42,6304,05046,68040,2253,82144,046------
Geoff Hone*47,3674,50051,86735,5253,37538,900------
Carita Kazakoff1*47,3674,50051,86747,3674,50051,86749,1674,91754,0849,09095410,044
Andrew Gerrit Boog37,8933,60041,49337,8933,60041,49339,3333,93343,26641,7324,38246,114
Kirsten Mander94,7349,000103,73494,7349,000103,73498,3349,833108,168104,33310,955115,287
Richard Flitcroft37,1143,52640,64039,3843,76943,15349,1674,91754,08452,1665,47757,644
Imogen Sturni237,1143,52640,64037,3093,54440,85339,3333,93343,26641,7324,38246,114
Nikhil Mishra*9,47390010,37342,1234,00246,12544,2504,42548,67513,4141,40814,823
Chris Joyce*28,4202,70031,120---------
Anastasia Polites*---29,5682,80932,37739,3333,93343,2663,4783653,843
Adam Awty---9,47390010,37339,3333,93343,26650,9415,34956,290
James Peters AM, KC------44,2504,42548,67546,9494,93051,879
Kamal Farouque---------36,6353,84740,481
Daniel Papps3---------30,3063,18233,488
Mary Macken4---------29,6433,11332,756
Grand total:476,84545,302522,147480,65745,691526,34849,658349,659546,242         517,80054,369572,169

* Now retired

1.Carita Kazakoff's remuneration is paid to the Australian Services Union. The Australian Services Union paid directly to Carita Kazakoff a meeting attendance fee of $7,000 in 2020/21 ($3,000 in 2019/20).

2. Imogen Sturni’s remuneration is paid to the Australian Services Union.

3. Daniel Papps’s remuneration is paid to United Services Union.

4. Mary Macken’s partial remuneration of $4,173 is paid to United Services Union.

Executive management team remuneration disclosures

Executive performance evaluation & review 

The performance of all staff is formally reviewed and evaluated each year.

Each staff member meets with their direct report to review their performance over the preceding year and identify any opportunities for professional development.

The Remuneration and Nomination Committee reviews the performance and remuneration of all responsible officers of the Trustee which includes the 

  • Chief Executive
  • Executive Manager - Chief Investment Officer
  • Executive Manager - Chief Member Officer
  • Executive Manager - Legal, Risk and Compliance and Company Secretary 
  • Executive Manager - People & Culture

The Remuneration and Nomination Committee receives and considers a report and recommendations from the Chief Executive on the performance of the responsible officers and formulates a recommendation for the Board.

The Chief Executive submits a self-evaluation which is considered by the Remuneration and Nomination Committee.

The Board then determines any adjustment to the remuneration of the responsible officers.


Professional development

legalsuper invests in the professional development of its staff recognising the importance of them being properly trained to undertake their responsibilities and provide high levels of professional advice and service to members and employers.

This professional development includes industry conferences for the superannuation and financial services industries as well as specific tailored professional development. Staff who provide advice to members are required to undertake ongoing training to keep them abreast of changes in superannuation.

Once a year all staff from across Australia meet in Melbourne at a strategic planning and professional development meeting. Industry commentators are invited to present at this meeting to brief the team on current industry trends and developments. As part of the professional development component of these meetings, expert training consultants provide specialist professional development.

The Trustee encourages and supports staff undertaking further studies both by paying the cost of work-related study and providing study leave.


Remuneration of responsible officers

The aggregate remuneration paid to each of the responsible officers in each of the last four financial years was as follows:

Financial Year2019/2020 2019/2020 2019/20202019/2020 2020/20212020/20212020/20212020/20212021/20222021/20222021/20222021/20222022/232022/232022/232022/23

$Salary$Super $Other*$Total$Salary$Super$Other*$Total$Salary$Super$Other*$Total$Salary$Super$Other*$Total
Andrew Proebstl1,2460,05425,000134,373619,427469,75725,000144,987639,744469,83746,984152,843669,663704,88774,013-778,900
Edward Smith142,1166,1310148,247------------
David Eastwood3,4301,36928,63068,896398,895307,39729,20375,292411,892626,17928,030------
Kaye Wheatley-Brown200,91219,0870219,999221,00420,995-241,999234,21323,42121,504279,138248,35526,07726,755301,187
Patsy Mullen-Conolly5,6214,61120,3880234,999128,6212,640-131,261--------
Carrie Norman----188,72517,929-206,654269,05226,905-295,957298,88431,382-330,267
Norman Zhang88,2798,387096,666280,73126,669-307,400322,67932,268-354,947363,41338,158.29-401,571
Jessica Lancashire7--------145,47414,547-160,022155,76415,755.54-171,520
Trevin Erichsen8------------267,23228,059-295,292
Luke Symons9------------116,56112,238-128,800
Grand total $1,407,341107,623203,2691,718,2331,596,235122,436220,2791,938,9502,067,434172,156174,3472,413,9362,155,098225,68526,7552,407,537

Travel, accommodation and other incidental costs incurred by responsible officers in their roles are paid or reimbursed by legalsuper and reflected in the financial statements of legalsuper.

*Other includes Accrued Long Service Leave.

1.Ceased employment with legalsuper effective 23 November 2022

2. 2022/23: Includes eligible termination payment of $ 557,629

3. Ceased employment with legalsuper effective 8 April 2022

4. 2021/22: Includes eligible termination payment of  $376,619

5. Ceased employment with legalsuper effective 16 July 2020 

6. 2020/21: Includes eligible termination payment of $107,468

7. 0.8 FTE and in Executive role since 1 July 2021

8. 2022/23: Commenced 12 September 2022, ceased employment 16 August 2023

9. Commenced 11 April 2023

Policies & disclosures


Nomination, appointment & removal of Directors

Constitution of Legal Super Pty Limited (260.87 KB)

Refer to page 12 of the Constitution of Legal Super Pty Ltd for the relevant details.

The Independent Chair completes a Board performance assessment and reports the findings to the Board annually. The performance of the Independent Chair is also reviewed by the Board annually.



Proxy voting policy

Proxy voting policy (136.07 KB)


The proxy voting policy sets out how Legal Super Pty Ltd (the Trustee) manages proxy voting in respect of the publicly listed shares in which it invests.


Conflicts of interest management

Summary of Conflict management framework (141.43 KB)


legalsuper’s Conflicts Management Framework covers the identification, disclosure, recording and management of conflicts of interest. Conflicts of interest may arise from other interests held or from duties owed to other entities by the Trustee or our Responsible Persons. Conflicts of interest may be actual or potential conflicts. This summary sets out how the Board manages any actual or potential conflicts of duty and/or interests of Legal Super Pty Ltd (the Trustee) and its Responsible Persons to ensure that where conflicts arise, priority is given to the interests of members, so they are not adversely affected.

Register of Relevant Interests & duties

Register of Relevant Interests & duties (latest document) (609.46 KB)

As part of our Conflicts Management Framework, we maintain a Register of Relevant Interests & duties.


Dispute resolution

Internal dispute resolution policy (170.15 KB)

The Internal Dispute Resolution Policy ensures we have a comprehensive and robust process for the management of complaints.


Code of Conduct

Code of conduct (107.4 KB)


This Code governs how legalsuper and all its directors, employees, contractors and agents of legalsuper and any person or organisation that acts for it, should conduct themselves in the performance of their respective duties, in dealings with other employees and in dealings with third parties such as clients, suppliers and contractors. 


Governance framework

Governance Framework (168.06 KB)


Legal Super Pty Ltd is committed to operating in accordance with good governance principles.  This Governance Framework describes the key policies and procedures adopted by the Board  to ensure the sound and proper governance of legalsuper.


Diversity policy

Diversity Policy of Legal Super Pty Ltd (438.26 KB)


legalsuper values diversity and has adopted this Diversity Policy to articulate and promote the benefits of diversity within legalsuper.


Charter: Remuneration & Nomination Committee

Remuneration & Nomination Committee Charter (170.9 KB)


Sets out the role, responsibilities, composition and operation of the Remuneration & Nomination Committee.

Board skills matrix

Board skills matrix (115.84 KB)

Sets out the skills and relevant experience, collective competency, and diversity of the Board.


Whistleblower policy

Whistleblower policy (159.82 KB)

This policy outlines the framework adopted by Legal Super Pty Ltd to receive, investigate address disclosures made by whistleblowers.

Modern Slavery Statement

Modern Slavery Statement (139.67 KB)

The purpose of this Statement is to detail the activities we have undertaken in relation to modern slavery risks in our operations and supply chains and our approach to this commitment for the financial year ended 30 June 2022.

Proxy voting

Proxy voting policy

Proxy voting policy (136.07 KB)

The proxy voting policy sets out how Legal Super Pty Ltd (the Trustee) manages proxy voting in respect of the publicly listed companies in which it invests.

legalsuper holds Overseas shares through holdings with five investment managers. 

Proxy voting report (227.18 KB)

Audited financial statements

 

legalsuper

Financial statements 30 June 2023 (1.12 MB)

legalsuper - audited financial statements for the year ended 30 June 2023

Legal Super Pty Ltd

Audited financial statements 30 June 2023 (580.79 KB)

Legal Super Pty Ltd -  Audited financial statements for the year ended 30 June 2023

Member Outcomes Assessment

Each year, we are required to determine whether our products promote the financial interests of our members by assessing our performance against various assessment and comparison factors.

This year's evaluation has again determined that our products promote the financial interests of our members.


Key comparison factors

Returns

  • As of 30 June 2022, our MySuper Balanced investment option, where most members are invested, delivered an annual net return of -1.05%* for the year, above the SuperRatings median of -3.55%. This out-performance of 2.50% was driven by strong sector and manager outperformance from active investing.

Fees and costs

  • As an Industry Super Fund, we are run only to benefit our members. We don’t pay dividends to shareholders and, aside from the costs of managing legalsuper, profits are shared with members through net investment returns. Our fees and costs are competitive. We do not spend our members’ savings on mass advertising. Our fee structure is designed to provide value, but not at the expense of personalised service, tailored products, and competitive returns on your super balance.

Investment Risk: 

  • The target and estimated level of investment risk for the MySuper product, where most members are invested, is 3.5 or ‘medium to high’. This reflects the investment strategy adopted by the Trustee and MySuper membership demographic. It is consistent with the median investment risk for the MySuper products of comparable super funds with a return target of CPI + 3%.

Download the Member Outcomes Dashboard below which sets out legalsuper's Member Outcomes Assessment and determination for the MySuper, Choice, and Pension investment options.

MySuper optionChoice optionPension option
Download documentDownload documentDownload document

Retirement income strategy

This document provides a summary of our strategy, which we hope will assist our members in making informed decisions about their retirement.

Retirement Income Strategy (161.53 KB)

More information can be found on this page.

Annual reports and Member meetings


2021/2022 Annual Report 

Download legalsuper's most recent Annual report, for the 2021/22 financial year here:

Annual Report 2021/22 (3.24 MB)

2022 Annual Members Meeting 

The Annual Member Meeting was held on 1 December 2022.

Annual Member Meeting minutes December 2022 (222.58 KB)



Service providers

The Trustee outsources most operations to expert service providers. Regular tenders are undertaken to ensure the best services and products available in the market are delivered to legalsuper's members and employers.


Fund administrator

  • Australian Administration Services Pty Limited ABN 62 003 429 114 (all administration enquiries and processing including receipting and allocating of contributions and payment of benefits)

Communications

  • The Creative Works Pty Ltd. ABN 56 006 243 027 (develops member and employer communication material)

Custodians

  • The Northern Trust Company ABN 62 126 279 918 (custodian for the majority of investments assets) and
  • BNP Paribas Securities Services ABN 87 149 440 291 (custodian for a single investment asset class) 

Investment Advisors and Managers

  • legalsuper has appointed specialist investment advisors and managers to manage the assets invested with legalsuper. Investment advisors and managers currently appointed are listed here.

Insurer

  • The insurer is OnePath Life Limited ABN 33 009 657 176 up until 31 July 2022 and on and from 1 August 2022 will be Zurich Australia Limited ABN 92 000 010 195 (the “Insurer”). (Death, TPD and salary continuance insurance)

Corporate

  • PricewaterhouseCoopers ABN 52 780 433 757 (Tax Adviser)
  • Deloitte ABN 34 112 958 031 (External auditor)
  • PricewaterhouseCoopers ABN  52 780 433 757 (Internal auditor)
  • Hall & Wilcox ABN 58 041 376 985
  • Holding Redlich ABN 15 364 527 724; and
  • Maddocks ABN 63 478 951 337 (legal advisers)

Direct Investment option platform

Provided by FNZ (Australia) Pty Limited ABN 67 138 819 119


IT services

Provided by Nerds on Time ABN 35 619 036 332