The RBF Board

How does the Board work?

Under Section 10 of the Retirement Benefits Act 1993, the Retirement Benefits Fund Board is responsible for administering the Retirement Benefits Fund in the best interests of members and in accordance with the relevant legislation. Much of the administrative work required has been delegated to staff employed by the Board. The primary focus of the Board is on setting the high-level policy and strategy agendas.

The Board consists of six voting Members and a non-voting President. Three of the Members are nominated by the Government, two Members are elected by members of the Fund, one Member is nominated by the Tasmanian Trades and Labor Council (TTLC), operating as Unions Tasmania and the President is nominated by the Government with the agreement of the TTLC.

Four out of the seven Members of the Board must be present to form a quorum at a duly convened meeting. Decisions of the Board must be supported by two-thirds of the voting Members present. Full and accurate minutes of proceedings are kept for all Board meetings.

To assist in the efficient operation of the Fund, the Board has established 3 committees, which operate within the powers that have been formally delegated by the Board. These committees have the power to make decisions and recommendations to the Board on policy.

• The objective of the Investment and Asset Allocation Committee is to meet the investment performance objectives set by the Board through a disciplined approach to the development of investment strategy, its implementation and associated administration.
• The objective of the Governance Committee is to ensure that corporate objectives, strategy, business operations and activities are monitored, reviewed, controlled and assessed. The Committee thereby ensures that the activities of the Board are carried out in accordance with corporate objectives, strategies and practices, pertinent laws and regulations.
• The primary objective of the Remuneration Committee is to assist the Board in fulfilling its oversight responsibility to stakeholders by ensuring that RBF has coherent remuneration policies and practices that fairly and responsibly reward employees having regard to performance, the law and the highest standards of governance.

Who are the Board members?

Damian Egan - President of the Board (non-voting)
 

Nominee of the Minister, with the agreement of the Tasmanian Trades and Labor Council (now operating as Unions Tasmania) Current term: 4/09/2009 - 3/09/2012 Board Member since 1995 and President since 1996 Chairman of the Governance Committee and the Investment and Asset Allocation Committee. Director of Tasmanian Gateway Holdings Corporation Pty Ltd and Hobart International Airport Pty Ltd. Mr Egan is a partner in the legal firm Murdoch Clarke, a member of the Federal Government Corporations and Markets Advisory Legal Committee, Board member of the Hobart City Mission Inc and several private companies.

Andrea Schiwy - Deputy President of the Board
 

Nominee of the Minister Current term: 1/07/2007 - 30/06/2010 Member of the Governance Committee and Chairman of RBF-TAS Planning Pty Ltd Ms Schiwy is a member of the Social Security Appeals Tribunal, the Nursing Board of Tasmania Tribunal and Legal Profession Disciplinary Tribunal.

John Wilcox
 

Nominee of the Minister Current term: 1/10/2009 - 30/09/2012 Member of the Governance Committee Mr Wilcox is a semi-retired Chartered Accountant.

Lindsay Jones
 

Nominee of the Tasmanian Trades and Labor Council (now operating as Unions Tasmania) Current Term: 1/07/2007 - 30/06/2010 Member of the Investment and Asset Allocation Committee Mr Jones is the Tasmanian Branch President of the CPSU (SPSFT) and is semi-retired.

Neroli Ellis
 

Elected by members of the RBF Contributory Scheme Current term: 1/07/2007 - 30/06/2010 Member of the Governance Committee Ms Ellis is the Branch Secretary of the Tasmanian Branch of the Australian Nursing Federation.

John Harman
 

Elected by members of the Tasmanian Accumulation Scheme Current Term: 1/01/2009 - 30/06/2010 Member of the Investment and Asset Allocation Committee Mr Harman is semi-retired superannuation industry specialist with approximately 38 years experience in the superannuation and finance industries. Prior to joining the RBF Board Mr Harman was the Investment Manager with Industry Superannuation Fund Tasplan.

Elizabeth Thomas
 

Nominee of the Minister Current Term: 4/09/2009 - 3/09/2012 Member of the Governance Committee Ms Thomas is an independent business consultant, specialising in corporate governance, organisational development and strategic planning.