Bernie Fraser, long-time advocate for better retirement savings, has today announced his resignation from the boards of Cbus and AustralianSuper.
Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, said "I've known Bernie for many years, particularly during my tenure as a board member for AustralianSuper, and I know he will be sorely missed from both funds."
"I am very pleased to hear he has decided to stay on as Chairman of ME Bank, where I've no doubt he'll continue the sterling work he began when he first joined the Bank's board." Mr Shorten said.
Mr Fraser has been the Independent Director of AustralianSuper and its predecessor funds (STA and ARF) since 1996. He was on the board of Cbus for over 15 years.
"Bernie has served on both super fund boards with distinction for many years. But he is probably most well known as the guy with the great voice who appeared on our TV screens talking about the importance of more superannuation in retirement."
"Bernie has played an important role in educating Australians about the need for more money in retirement and has been an unceasing advocate for a decent superannuation nest egg for all of us."
"I wish him well in his retirement and have no doubt he will continue to provide his sage advice and role of elder statesman of the financial services sector in the coming years," Mr Shorten said.