The Trustee and its Operations

Perpetual Superannuation Limited (PSL) is a member of the Perpetual Limited Group of Companies (Perpetual). As one of the most trusted providers of financial products and services in Australia, Perpetual has long been recognised for initiative, integrity, security and vision.

PSL is also referred to as the ‘Trustee’ and is the entity within Perpetual responsible for superannuation to provide a product suite to meet the needs of our target market advised clients seeking greater control and flexibility over their retirement savings.

As the holder of a Registrable Superannuation Entity (RSE) license, PSL is regulated by the Australian Prudential Regulation Authority (APRA). By having a single entity within Perpetual as the RSE for all APRA regulated superannuation funds, PSL is able to focus solely on superannuation issues within Perpetual thereby helping it to discharge its fiduciary and trustee duties to fund members.

The Board of Directors oversees all aspects of PSL and is made up of 3 independent directors and 2 Perpetual Group executive directors. Further information on the directors is provided below.

Perpetual’s business divisions are responsible for manufacturing, offering, distributing and marketing superannuation products. These business divisions include Perpetual Investments and Perpetual Private who look after the following superannuation products (collectively the “Funds”).

Fund name Fund acronym ABN Registrable superannuation entity number (RSE)
Australian Eligible Rollover Fund
An eligible rollover fund designed to accept transfers from other superannuation funds or retirement savings account providers.
AERF 81 932 639 940 RSE 1067750
Perpetual’s Pooled Superannuation Trust
A flexible and practical investment solution providing a range of Perpetual managed funds for trustees of complying superannuation funds.
PPST 89 544 906 125 RSE 1057027
Perpetual Private Super Wrap
A comprehensive superannuation investment solution providing wide investment choice and flexibility including a range of ASX Listed Securities, Term Deposits and professionally managed investment options within the one convenient administrative package.
PPSW 22 897 174 641 RSE 1074406
Perpetual’s Select Superannuation Fund
A simple superannuation investment solution providing a range of multi manager, multi asset class and single asset class investment options. Perpetual was granted authority to offer a MySuper Product under this Fund called the Perpetual MySuper Product. The unique identifier designated is 51068260563643.
PSSF 51 068 260 563 RSE 1057034
Perpetual Small APRA Funds
A comprehensive trustee, administration and custody service for DIY superannuation funds providing wide investment choice and flexibility.
SAFs Various RSE Various
Perpetual WealthFocus Superannuation Fund
Offers a superannuation investment solution providing a range of professionally managed investment options with the one convenient administrative package.
WFSF 41 772 007 500 RSE 1057010

Service Providers

PSL is committed to providing quality service to its members and through various internal and external relationships, employs competent and specialist staff to manage our funds on a day to day basis under the direction of and by delegation from the Trustee Board. The Trustee Board has a number of delegated committees in place as executive bodies that strategically govern and oversee the operation and investments of the funds and report on their services to ensure that PSL runs efficiently on a day-to-day basis and that key obligations and service standards are met or exceeded.

PSL’s key service providers, whose services may affect a material business activity, are listed below. These service providers may also have various consultants and panels of advisers that they use for specialist advice, but the following reflect the key relationships within Perpetual and with external service providers.

Service Provider ABN Services Provided
Perpetual Limited 22 000 431 827 Group insurance arrangements and management staff including Risk & Compliance, Internal Audit, Legal, HR, Finance, IT, Secretariat & Product Management
Fujitsu Australia Limited (via Perpetual Services Pty Limited through Perpetual Limited) 19 001 011 427 Group IT and application management
Datacom Systems (AU) Pty Ltd (via Perpetual Services Pty Limited through Perpetual Limited) 39 135 427 075 IT Service desk, onsite IT support and Cross vendor service management and Service Management System
Tech Mahindra Limited (via Perpetual Services Pty Limited through Perpetual Limited)
15 092 511 558
Administration services for PPST, PSSF and WFSF including unit registry, client administration, insurance administration and reporting
Perpetual Investment Management Limited 18 000 866 535

Custody and Administration services for PPST, PSSF and WFSF including unit registry, client administration, investment administration, custody, insurance administration and reporting.

Investment Management for PPST, PSSF and WFSF

RBC Investment Services Trust (via Perpetual Investment Management Limited) 75 116 809 824 Sub-Custody and Administration services for PPST, PSSF and WFSF including unit pricing, fund accounting and investment administration
Perpetual Trustee Company Limited 42 000 001 007 Custody and Administration services for PPSW, SAF’s and the AERF including fund administration, client administration, investment administration, custody, insurance administration and reporting
Jana Investment Advisers Pty Ltd 96 002 071 749 Investment Advisor for the AERF
Jacques Martin Administration & Consulting Pty Limited 24 006 787 748 Administration services for the AERF
Macquarie Investment Management Limited (via Perpetual Trustee Company Limited) 66 002 867 003 Administration services for PPSW and the SAF’s including fund administration, client administration, investment administration, custody, insurance administration and reporting
Zurich
92 000 010 195
Death, total and permanent disablement (TPD) and income protection insurance cover - PPSW
AIA Australia Limited 79 004 837 861 Death, total and permanent disablement (TPD) and income protection insurance cover – WFSF, PSSF and PPSW
Bond Street Custodians Limited (via Perpetual Trustee Company Limited) 57 008 607 065 Custody services for PPSW and the SAF’s
KPMG 51 194 660 183 External Auditor

Fund Annual Reports and Financial Statements

The annual report for each relevant superannuation fund can be found here.

The financial statements for PSL are provided here.

Policies and Processes

PSL generally utilises the policies and process of its related party entities, however, it would like to specifically note the following policies.


PSL Proxy Voting Policy

PSL maintains a Proxy Voting Policy where it outlines its approach to exercising its right to vote for the various types of investments that it may hold through its Funds.

Click here for results from Perpetual Private's Proxy Voting activity.

PSL Conflicts Framework

PSL maintains a Conflicts Management Framework to ensure the management of conflicts of interest. This framework outlines PSL’s approach to the management of conflicts and aims to ensure that PSL identifies, takes all reasonably practicable actions to avoid and/or prudently manages all potential and actual conflicts in its business operations. It sets out the means by which PSL leverages the broader group so as to effectively identify and manage conflicts as well as comply with regulatory / legislative obligations.

PSL Register of Relevant Interests and Relevant Duties

In accordance with PSL Conflicts Management Framework, PSL maintains a Register of Relevant Interests and Relevants Duties for PSL, its associates and responsible persons. Click here to view the current register.

Environmental, Social and Governance Policy

PSL maintains an Environmental, Social and Governance (ESG) Policy where it outlines its approach to ESG matters mainly in relation to our default product for the purposes of the superannuation guarantee charge, choice of fund rules (our MySuper product).

Diversity Policy

PSL maintains a Diversity Policy which includes a requirement to establish measurable objectives for achieving gender diversity on the Board and to assess these objectives and progress in achieving them on an annual basis.

The Board’s gender diversity objective is currently met.

Our Trustee Board and related information

Board Appointment and Renewal

It is PSL's policy that its Board of directors, collectively, comprise an appropriate mix of skills, experience and personal attributes, and to ensure that the Board remains open to new ideas and independent thinking, in order to enhance Board performance and ensure that the board acts in the best interests of beneficiaries of PSL’s superannuation funds.

PSL Board Appointment and Renewal Policy

Information about our Directors and Executive Officers
The Board of Directors oversees all aspects of PSL and is made up of 3 independent directors and 2 Perpetual Group executive directors.

More about our Directors and Executive Officers

Record of Attendance

Schedule of Director Attendance

Remuneration Disclosure

Perpetual Superannuation Limited Remuneration Disclosures

PSL Constitution

A copy of PSL’s constitution

COMPLIANCE WITH FSC STANDARD 20 - SUPERANNUATION GOVERNANCE (Standard)

Perpetual Limited is a member of the Financial Services Council (FSC). PSL as a member of the Perpetual Group is required to comply with the standards issued by the FSC, in particular FSC Standard 20 – Superannuation Governance. Where relevant PSL has either relied upon broader group arrangements for compliance or complied with this Standard in its own right.

INSURANCE IN SUPERANNUATION VOLUNTARY CODE OF PRACTICE

PSL intends to adopt the Insurance in Superannuation Voluntary Code of Practice (the Code) and comply with the requirements of the Code to the extent that they are in our members’ best interests. PSL supports the Code’s intent to improve insurance in superannuation offered to fund members as well as trustees’ processes in providing insurance.

The transition plan outlining the timeframe in which PSL will comply with the Code is located here.