NAB Trustee

On 20 January 2014 a subsidiary company of the National Australia Bank gained control of the Trust Estate of an occupational pension trust established on 23 December 1913 in the State of South Australia, that was once known as the Elders IXL Superannuation Fund.

The Trust Estate is still impressed with the trust established in 1913.

Active Members” of the fund were advised that a “successor fund transfer” had occurred however the approval of APRA as required pursuant to Part 18 of the Superannuation Industry (Supervision) Act 1993 was never obtained.

No “approved form” was lodged with APRA pursuant subsection 146(2) of the Superannuation Industry (Supervision) Act 1993 as confirmed in the following letter to the Chairman of APRA.

Chairman of APRA -3 March 2015

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This tab updated on 21 March 2015