Joint Media Release from: Australian Institute of Superannuation Trustees and Victoria University
A new university course designed to cater for industry professionals in Australia's rapidly expanding $1.1 trillion superannuation industry has been launched by the Australian Institute of Superannuation Trustees (AIST) and Victoria University (VU) in Melbourne.
Professor Pauline Stanton, the head of the Victoria Graduate School of Business (VGSB) at Victoria University said that relationships between industry and education were an essential way forward for the tertiary education sector in Australia, and that VGSB is continually seeking to support industry in enhancing their professionalism and capacity.
Professor Stanton congratulated AIST for undertaking a leading role in development and education in the superannuation industry.
She said: "For some time the superannuation industry has sought to develop a specialised qualification framework, linking the industry programs to tertiary post graduate qualifications that will enable their members and the wider industry the opportunity to enhance their considerable knowledge and Governance of the industry and potentially lead to the completion of an MBA."
AIST – the peak representative body for the $450 billion not-for-profit superannuation industry - has joined forces with VU to deliver a new post-graduate qualification – Graduate Certificate in Superannuation Management - aimed at current trustee directors of super fund as well as others involved with the superannuation industry.
The move is a first for trustee education in Australia and recognises the growing demand among superannuation funds and related businesses for staff with specialist superannuation knowledge. The level of training and professionalism within the superannuation industry is currently being considered by the Cooper Review into superannuation, which is due to report back to the Federal Government later this year.
AIST CEO Fiona Reynolds said while research showed that the level of professional qualifications among those at the helm of Australia's super funds was generally very high, it was likely that an even higher standard of knowledge and skills for trustee directors would be required in the future.
"As superannuation becomes complex, more tightly regulated and funds continue to grow in size, so too will demand for specialist skills, particularly in the areas of governance and accountability of which this new course has a strong focus," said Ms Reynolds.
Further enquires: AIST CEO Fiona Reynolds 0408 336 116
VU: Dr. Joe Griffin (03) 9919 1521 or Janet de Silva, AIST media 0425 745 095