Australian Catholic Superannuation
Australian Catholic Superannuation has been selected as an ABA100 Winner for Project Management in The Australian Business Awards 2019. The Australian Business Award for Project Management [PMA] recognises organisations that have achieved outstanding results through initiatives that demonstrate excellence in project management.
Since 1981, Australian Catholic Superannuation has helped people who work in Catholic education, healthcare, aged care and welfare plan for their future by providing excellent superannuation, insurance, retirement planning and financial planning services.
The organisation supports more than 93,000 members and over 13,000 contributing employers with more than $8.8 billion in funds under management.
Australian Catholic Superannuation is self-administered, meaning the administration of all contributions and benefit payments are handled internally focussing on delivering member outcomes and excellence in customer service.
Guided by the values Australian Catholic Superannuation shares with their members, they provide a superannuation service that focuses on providing excellent retirement planning outcomes. It is the super fund of choice for the Catholic sector, and as a public offer fund, it is open to anyone who is eligible for super.
Their mission is to provide our members with appropriate superannuation benefits, which make a positive contribution to their retirement strategies and goals. To achieve this, fees are kept low, investing responsibly and offering members access to additional benefits through their partner network.
As dividends are not paid to shareholders, all profits go back to members in the form of improved services and support, strong investment performance, a variety of choice in investments, self-service over-the-phone access, secure online portals, free seminars and workplace visits.
A lifecycle investment strategy was developed to ensure Australian Catholic Superannuation’s default product offering was suitable for the majority of its members by improving the alignment of investment risk with member’s investment time horizon, based on the member’s age. A lifecycle investment strategy means the investment allocation will have more risk and growth potential when the member is younger, and better able to withstand any market volatility, and gradually hold less risk when the member is older and is less able to withstand market volatility.
Called LifetimeOne, the product automatically changes asset mix as a member ages, helping them grow their retirement savings. The introduction of a lifecycle investment strategy will lead to many member benefits, including an increased average return over the medium-to-long term and lower investment management fees for members under 60 due to increased exposure to equities.
LifetimeOne is been designed to dovetail into the award winning RetireSmart pension strategy; keeping the focus on value for members from the first day they join, until their retirement.
The Australian Business Awards are an annual comprehensive awards program which recognises organisations that demonstrate the core values of business innovation, product innovation, technological achievement and employee engagement via a set of established business and product award categories.
The Australian Business Awards are the national chapter of an integrated, hierarchical leadership initiative conducted on a national and international level. Eligible organisations are invited to participate in the international chapter of the program at The World Business Awards whereby participants are provided with the unique opportunity to benchmark themselves against the top performers globally.
The process culminates in the selection of organisations which implement world-class business initiatives, projects, products and services. The award recipients are recognised as the elite of their industry earning a place amongst a distinguished group by having their achievements acknowledged and celebrated.
Organisational eligibility includes private companies, publicly listed companies, multinational subsidiaries, not-for-profit organisations, non-government organisations, educational institutions, franchise systems, partnerships, government departments, government agencies, local government and statutory bodies operating in Australia.
Organisations are required to complete a submission for a specific business initiative, product or service.
Business initiatives can include but are not limited to projects, programs, processes, systems, technologies, developments, ventures and undertakings.
Products can include but are not limited to services, devices, equipment, programs, processes, activities, applications, information, knowledge, software, cloud-based services, platforms, systems and manufactured goods. Products must be commercially available on the Australian market and comply with all applicable Australian standards and regulatory requirements. Product eligibility includes domestic and international products available to the Australian marketplace.
The World Business Awards Framework (WBA Framework) is utilised as a structured model of assessment that enables the participating organisations to be benchmarked against world class performance standards.
The Framework consists of specialised assessment modules pertaining to the evaluation criteria for each of the award categories. The criteria and sub-criteria provide a robust set of requirements that are used as the methodology for benchmarking and learning among the participating organisations.
Organisations that demonstrate the core values of business innovation, product innovation, technological achievement and employee engagement are recognised via a set of established business and product award categories.
The program provides a notable opportunity for high-performing organisations which implement world-class business initiatives and develop innovative products and services to be acknowledged and celebrated for their achievements both nationally and internationally.
Conducted annually, the program engages with organisations worldwide to benchmark the full spectrum of their products, services and initiatives and to review their business performance through a global recognition and knowledge building initiative that is underpinned by the program’s established framework.
The program provides the ultimate platform for building knowledge, increasing brand awareness, equity, loyalty and retention through increased exposure, recognition and prestige.