FUND DETAILS     USI: NES0100AU     ABN: 72 229 227 691     ADDITIONAL INFORMATION

NESS Super invites all members to attend the 2023 Annual Members’ Meeting (AMM).

The AMM will provide NESS Super members an opportunity to hear directly from Directors and the CEO on aspects of the Fund’s performance for the year ended 30 June 2023 and ask questions about the Fund.

Event Details

calendar

Date

Thursday, 14 December 2023

time

Start Time

5pm (AEDT)

Agenda

Agenda

  • Welcome and introductions
  • Opening address by our Chairman
  • Update on the Fund
  • Investment Update
  • What’s ahead
  • Question and Answer Session
Question

Questions

If you have a question, please email us at contact@nesssuper.com.au

Who will be speaking?

Paul Lahiff

Paul Lahiff

Chairman and Independent Director

Paul Lahiff

Paul Lahiff

Chairman and Independent Director

Paul was appointed Chairman of the Board of NESS Super on 20 May 2021 and was appointed to the Board as an Independent Director on 21 March 2019.

Paul holds a BSc from Sydney University.  Paul runs his own consultancy business specialising in strategy formulation, executive coaching & mentoring and Board governance. Paul has almost forty years' experience in banking and finance, with previous roles as Chair of NPP Australia Limited, Managing Director roles with Mortgage Choice, Permanent Trustee and Heritage Building Society. Paul has held senior executive roles with Westpac in Sydney and London. Paul has also served on the boards of Sunsuper, Cancer Council NSW, House With No Steps and Thorn Group.

Current Directorships / Appointments:

  • Chairman, NESS Super Pty Ltd
  • Director of Sezzle Inc.
  • Director of 86400 Holdings Ltd
  • Director of 86 400 Ltd
  • Director of 86 400 Technology Pty Ltd
  • Director of Harmoney Corp Limited
  • Director & Secretary of Lahiff Consulting Pty Ltd
  • Director & Secretary of P & R Lahiff Pty Ltd
  • Director & Secretary of RSW Lane Cove Pty Ltd
Chris Madson

Chris Madson

Director (Employer Representative)

Chris Madson

Chris Madson

Director (Employer Representative)

Chris was appointed as an Alternate Director from September 2015, then a Director from December 2019. Chris is a chartered accountant with a wealth of experience in the electrical contracting industry. He has held the role of Managing Director at Stowe Australia since 2007, Director of Stowe Australian from 2004 to 2007, and prior to this worked at Goldman Sachs and Arthur Anderson.

Chris is an Executive Committee Member of the National Electrical Contractors Association (NSW branch) and the Electrical Contractors Association of NSW. He is an Audit Committee Member and has held the role of Treasurer since 2013.

Chris is the Chairman of the Investment Committee.

Qualifications & Memberships

  • Bachelor of Business, majoring in Accounting & Finance
  • Chartered Accountant
  • Member Australian Institute of Company Directors
  • Cert IV in Superannuation

Current Directorships / Appointments:

  • Director, NESS Super Pty Ltd
  • Managing Director, Stowe Australia Pty Ltd
  • Director, ACN 000 028 286 Pty Ltd
  • Director and Secretary, Stowe Group Pty Ltd
  • Director, MERT Pty Ltd
  • Director, DavPat Pty ltd
  • Director, Madson Holdings Pty Ltd
  • Director and Secretary, Madcap Holdings Pty Ltd
Paul Cahill

Paul Cahill

CEO

Paul Cahill

Paul Cahill

CEO

Paul joined NESS Super in January 2018 as our new CEO. Paul has 25+ years’ experience in the superannuation sector, having had long CEO tenures at AMIST and ClubPlus super where he grew those Fund’s significantly. Paul is passionate about helping members retire with as much dignity as possible.

Current Directorships / Appointments

  • Secretary, NESS Super Pty Ltd
  • Director, Transition Management Australia

Additional Information

The following information is provided in accordance with paragraph 29P(3)(b) of the Superannuation Industry (Supervision) (SIS) Act 1993 and regulation 2.10 of the SIS Regulations 1994 (the Regulations).

The following table provides a short-form expenditure summary relating to NESS Super for the 2022/23 financial year, further details are provided below.

Expenditure category
Amount
Aggregate remuneration expenditure
$943,885.12
Aggregate political donations
NIL
Aggregate promotion, marketing, or sponsorship expenditure
$171,360.27
Aggregate industrial body payments
$201,929.41
Aggregate related party payments
NIL

Notice of 2023 AMM

Click here to view the notice issued to members of NESS Super

The 2023 NESS Super annual member’s meeting was held on 14 December 2023.

If you missed the meeting, a video of the meeting is available to view.

The meeting minutes is also available, click the link below.

2023 AMM Minutes

Information on Expenditure

Remuneration expenditure
Amount
$943,885.12
Promotion, marketing, or sponsorship expenditure
Term of Contract
Amount
Arte Design & Communication
30 June 2023
$16,928.97
Balloon Tree Productions Pty Ltd
16 December 2022
$5,256.78
B. Fraser
One-off
$1,000.00
Canberra Institute of Technology
One-off
$1,149.50
Divide By Zero Holdings Pty Ltd
30 June 2023
$133,900.02
Global Corporate Merchandise
One-off
$12,375.00
K. Galbraith
One-off
$250.00
R. Urquhart
One-off
$500.00
Total
$171,360.27
Political donations
Amount
NESS Super did not make any payments to a political entity, a political campaigner or an associated political entity during the income year.
NIL
Related party payments
Amount
NESS Super did not make any payments to a related party during the income year.
NIL
Industrial body payments
Payment Date
Amount
Electrical Trades Union of Australia - NSW Branch (remuneration)
17/07/2022
$13,121.11
Electrical Trades Union of Australia - NSW Branch (remuneration)
20/10/2022
$16,562.13
Electrical Trades Union of Australia - NSW Branch (remuneration)
19/01/2023
$16,562.14
Electrical Trades Union of Australia - NSW Branch (remuneration)
18/04/2023
$15,733.89
National Electrical & Communications Association (NECA) NSW Chapter
2/02/2023
$52,250.00
National Electrical & Communications Association - NSW Branch
21/07/2022
$161.30
National Electrical & Communications Association - NSW Branch
12/08/2022
$920.81
National Electrical & Communications Association - NSW Branch
15/09/2022
$984.44
National Electrical & Communications Association - NSW Branch
31/10/2022
$549.31
National Electrical & Communications Association - NSW Branch
10/11/2022
$705.90
National Electrical & Communications Association - NSW Branch
9/12/2022
$852.44
National Electrical & Communications Association - NSW Branch
14/02/2023
$557.77
National Electrical & Communications Association - NSW Branch
20/02/2023
$917.67
National Electrical & Communications Association - NSW Branch
17/03/2023
$42.32
National Electrical & Communications Association - NSW Branch
12/05/2023
$987.35
National Electrical & Communications Association - NSW Branch
16/05/2023
$548.70
National Electrical & Communications Association - NSW Branch
20/06/2023
$743.83
National Electrical & Communications Association - NSW Branch
30/06/2023
$782.98
ECA Training PTY Limited
29/09/2022
$3,248.30
ECA Training PTY Limited
29/09/2022
$749.10
ECA Training PTY Limited
27/10/2022
$12,382.75
ECA Training PTY Limited
27/10/2022
$37,148.23
ECA Training PTY Limited
28/02/2023
$13,034.47
ECA Training PTY Limited
15/04/2023
$6,267.09
ECA Training PTY Limited
15/04/2023
$ 6,115.65
Total
$201,929.41
Notes to the expenditure summary for the 2022/23 financial year

The expenditure disclosed in each expense category is not mutually exclusive.  The expense categories are defined in the Regulations such that some expenditure is required to be disclosed in multiple categories.  Therefore the total amounts should not be read as representing wholly separate expenditures.

Remuneration expenditure includes the fees paid to Directors and Alternate Directors, plus the remuneration paid to the Fund Executives.

Political donations – NESS Super does not make political donations.

Promotion, marketing or sponsorship expenditure includes design, production and distribution of Fund promotional or educational materials, plus sponsorships.  This excludes any sponsorship payments to the ETU or NECA, they are included in the Industry Body Payments.

Industrial bodies are defined in legislation as organisations registered under the Fair Work (Registered Organisations) Act 2009.  This Act defines an organisation as an entity registered under the Act which include the ETU NSW Branch (ETU) and NECA.  This includes rent on premises, sponsorship and Director fees paid directly to the Industrial Body.

Related party payments are payment to a related party of NESS Super for the purposes of accounting standard AASB 124 Related Party Disclosures.  NESS does not have any related parties as defined is AASB 124.