From the CEO
It is fascinating to see that one of the key reasons for the formation of ASFA or ASPFA, as it was then, was to advocate against the 30/20 rule. While it took two decades to have that repealed, the industry has become more sophisticated in its dealings with Government and better resourced to ensure public policy is well researched and delivers the best outcomes for members.
There are no doubt many who would like to issue directives similar to 30/20 today. And this is just one of the many reasons ASFA continues to play an important role in the industry.
Pauline Vamos
On the 24th of January 1962, the first formal meeting of the Association of Superannuation and Provident Funds of Australia was held in Sydney with 40 industry representatives.
AS(P)FA was born out of growing concern about the introduction, just 14 months earlier, of the so-called 30/20 legislation.
This legislation dictated that funds must hold 30 per cent of their assets in public securities and at least 20 per cent in Commonwealth securities: the rules were a motivating force for the industry to come together.
Fifty years on and in the face of a massive reform agenda, there are still good reasons for the industry to be able to speak with one voice.
This site celebrates the many achievements of the industry over the past decades. You are encouraged to share your memories and observations here.