After a member-elected Director commenced proceedings in the Supreme Court of Victoria in 1997 against a purported Trustee that had not even been lawfully appointed to the office of Trustee, the Defined Benefit Division was closed to new members on 1 December 1997, under the direction of Geoffrey Cohen, the Chairman of the purported corporate Trustee.
The Annual Report to Members for the year ending 30 June 1997 confirms that there were 1138 “Full Members” of this fund as of 30 June 1997.
The Annual Report to Members of the year ending 30 June 2012 confirmed that the number of active members of the Division 2 – Defined Benefit Fund had fallen to 101.
The number of members in the “Retained Benefits Division” fund was 1105 for former Foster’s and CUB employees. A large proportion of theses members would have been members of the Division 2 – Defined Benefits Fund.
This tab updated on 24 July 2015