The Associated Trustee

The National Australia Bank (NAB) first became involved with the administration of the occupational pension trust established on the 23 December 1913 in the State of South Australia, when the subsidiary company, Plum Financial Services Ltd, was appointed Fund Administrator on 1 July 2006 by the purported corporate Trustee CCSL Ltd (former name Corporate Combined Superannuation Pty Ltd).

In 2006 the fund was known as the Foster’s Group Superannuation Fund.

APRA granted this purported Trustee RSE licence L0000758 on 11 January 2006. The licence was granted by Mr Tony Randle, General Manager, Specialist Institutions Division, Superannuation Licencing, APRA {Refer below}.

APRA undertook no due diligence to confirm whether the purported Trustee had in fact been lawfully appointed to the office of trustee in accordance with the terms of the trust as properly construed.

APRA then amended the conditions imposed on the RSE Licence on 31 March 2006 to allow the purported Trustee to be the APRA approved Trustee of this APRA registered superannuation Fund, effective 3 April 2006 {Refer below}.

APRA is also required to register each approved superannuation fund and part of the registration process requires each trustee to provide APRA with a copy of the original Trust Deed that established the superannuation trust, along with copies of each instrument that purports to amend the terms of the original Trust Deed. However CCSL Ltd did not provide APRA with a copy of the original Trust Deed dated 23 December 1913, instead a copy of a document signed by Ken Jarrett and dated 26 August 1986 was dishonestly represented to APRA as the “Trust Deed” of this fund.

A quick inspection of the “Jarrett Deed” would have quickly confirmed this to be a fraudulent document, and not the Deed that established this Fund.

After amending the RSE Licence to allow CCSL Ltd to be the APRA authorised trustee of the fund, then known as the Foster’s Group Superannuation Fund {R1004830}, over the next few years APRA made further amendment to RSE Licence L0000758, to allow CCSL Ltd to be the authorised trustee of many more APRA regulated funds, including:

  • AIA Superannuation Fund {R1067682}
  • Cambooya Pooled Superannuation Trust {R1056754}
  • Cresent Wealth Superannuation Fund {R1075182}
  • ISARF Superannuation Fund {R1072457}
  • Lifefocus Superannuation Fund {R1055757}
  • Macaquarie University Professorial Superannuation Fund {R1069396}
  • Managed Australian Retirement Fund {R1004168}
  • Personal Choice Private Fund {R1073621}
  • Premium SMA Superannuation Fund {R1074352}
  • Rexel Australia Superannuation Plan{R1068993}
  • The Super Money Eligible Rollover Fund (SMERF) {R1001372}
  • The University of Sydney Professorial Superannuation System {R1001433}
  • The University of Wollongong Professorial Superannuation Scheme {R1069389}
  • e-Clipse Super {R1072914}

  • In December 2014 CCSL Ltd ceased to be the APRA approved Trustee of the funds listed above and a new corporate Trustee, The Trust Company (Superannuation) Ltd became the new APRA approved Trustee. However the Directors of both corporate Trustees are identical!

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    RSE Licence Amend #1

    FGS Fund


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    This tab updated on 20 March 2015