Sumary of Former EISS boss blames ‘calculated smear campaign’ for resignation:
- LoadingHowever, since the federal government introduced new laws in June to ensure all super fund spending creates financial benefits for members – EISS has not signed any new sponsorship deals.
- Mr Hutchison highlighted his achievements at the “complex” superannuation fund for energy workers, since his appointment in mid-2012, “at a time when the performance of the fund was under scrutiny from APRA and the NSW government”.
- “I was then able to undertake a thorough review of the business in order to recommend changes that achieved significant cost savings, improved services for members and improved our members’ retirement outcomes.
- ”Mr Hutchison pointed to his work to restructure the fund’s administration services which reduced costs by 30 per cent and bring financial planning in-house to ensure tailored advice options for members.
- Loading“I also obtained authorisation for EISS Super to become a public offer fund.
- ”“I remain proud of the fact that in my time at EISS Super member fees did not rise, our funds under management doubled in size, and we were on track to merge with another industry fund, which would further reduce costs to members while retaining the high-touch service model.