25 May 2023
ASFA CEO to step down after seven years
ASFA CEO to step down after seven years
The Association of Superannuation of Australia (ASFA) has today announced that its Chief Executive Officer, Dr Martin Fahy, has informed the ASFA Board of his intention to resign his position as CEO after seven years in the role.
Speaking following the announcement, ASFA Chair, Gary Dransfield said “Martin has provided outstanding leadership and has ensured that ASFA has played a pivotal role in addressing the policy and regulatory changes that have occurred during his tenure.”
Dr Fahy took up the role in late 2016 and has led ASFA through a transformational and turbulent period in the superannuation sector including the PYS reforms, the COVID-19 early release scheme, the introduction of the Your Future Your Super (YFYS) performance measures, and the legislated move to 12% Superannuation Guarantee.
“Under Martin’s direction ASFA has pursued a sophisticated, articulate and evidenced-based approach to advocacy and has driven capability uplift across the sector through its research, thought leadership, professional development, and related activities,” Mr Dransfield concluded.
Dr Fahy said “Australia’s superannuation retirement system is the envy of our OECD peers. It allows Australians to face into retirement with confidence and makes the fiscal burden of an aging population affordable.”
“I would like to thank the ASFA team, the ASFA Board, and our previous Chair Dr Michael Easson for their support. I am particularly indebted to Gary Dransfield, our current Chair, for his guidance and leadership over the last two years.”
The ASFA Board has appointed Gary Dransfield to the role of interim CEO as ASFA continues its important policy, research and advocacy efforts as the peak body for Australia’s superannuation industry.
Mr Dransfield is currently a non-executive director of Hollard Insurance and of the Australian Financial Complaints Authority (AFCA). He was formerly the Chief Executive of Insurance Australia for the Suncorp Group, has been both board member and Chair of the Insurance Council of Australia and the Insurance Council of New Zealand, and held numerous other board directorships. He has also held executive roles with IAG, Lend Lease, and AMP.
About the ASFA Retirement Standard
Since 2004 the ASFA Retirement Standard has served as a retirement companion for Australians, providing a reliable retirement savings guide by benchmarking the annual budget needed to fund either a comfortable or modest standard of living in the post-work years. It is updated quarterly to reflect inflation, reviewed regularly to reflect changes in lifestyle, and provides detailed budgets of what single people and couples would need to spend to support their chosen lifestyle.
More information
Costs and summary figures can be accessed via the ASFA website. Australians can find out more about superannuation on the independent Super Guru website.
