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Treasury & financeStatutory authority

Superannuation Fund Investment Trust

SFIT

1 July 1976 – 1990

Statutory trust that invested the assets of the superannuation fund for the Commonwealth Superannuation Scheme established under the Superannuation Act 1976.

How it came into existence

Established on 1 July 1976 by the Superannuation Act 1976, taking over investment of the superannuation fund from the Commonwealth Superannuation Board.

Legislation: Superannuation Act 1976

Changes during its life

  1. 7 December 1976Moved from the Treasury portfolio to the portfolio of the new Department of Finance.

How it ended

Replaced in 1990, when the Public Sector Superannuation Scheme was introduced, by separate boards of trustees for the Commonwealth Superannuation Scheme (CSS Board) and the new scheme (PSS Board).

  • Replaced by CSS Board · 1990
    • Investment of the CSS fund
  • Part split off to form PSS Board · 1990
    • Investment of Commonwealth superannuation contributions

    The PSS fund was new in 1990; the link records the PSS Board taking over part of the Trust's role as investor of Commonwealth civilian superannuation.

Main functions

  • Investment of the Superannuation Fund
  • Management of the fund's assets
  • Reporting on investment performance

Where it sits

Last in the portfolio of Department of Finance.

Lineage

Loading lineage…

Sources

Some dates or links for this organisation are not fully confirmed. Corrections are welcome.