Statements of Expectations and Statements of Intent for Trustees of the PSS, PSSAP and CSS
The Review of the Corporate Governance of Statutory Authorities and Office Holders (Uhrig Review) considered the corporate governance of Commonwealth statutory authorities and office holders with a view to the Government improving the performance of statutory authorities and office holders and their accountability frameworks.
The report on the findings of the Uhrig Review recommended, among other things, that:
- Ministers should issue Statements of Expectations to their portfolio bodies to clearly articulate the Government's expectations of each body, whilst respecting areas of independence of the body in accordance with the legislation establishing it;
- the body should respond to the Minister in a Statement of Intent which outlines how it proposes to meet the Minister's expectations;
- the Statements of Expectations and Intent should be subject to review on an annual basis, or more regularly where appropriate.
The PSS Board and the CSS Board have responded to the Minister's Statements of Expectations in Statements of Intent.
On 1 July 2006, the Australian Reward Investment Alliance (ARIA)
took on the responsibilities of the PSS and CSS Boards. The Statements of Expectations issued to the PSS and CSS Boards continued to apply to ARIA until the establishment of Commonwealth Superannuation Corporation (CSC) on 1 July 2011. They now apply to CSC.