In 2019 the Treasury Laws Amendment Bill 2019 set out requirements for superannuation funds to run Annual Member Meetings (AMM).
AMM requirements include:
- 21 days' notice must be given
- AMM must be held within 3 months of notice
- Notice must be given within 6 months of entity's income year
- AMM must be held within 9 months after the end of entity's income year
- Notice can be given electronically
- AMM can be held virtually
- Members must have reasonable opportunity to ask questions
- AMM minutes must be made available on Fund website
Many of these organisations were set to run their first AMM in 2020 but like many others had to provide a safe way to run these meetings with the heightened health restrictions whilst allowing ‘real’ interaction and with responsive Q&A functionality.
Link Group was able to utilise our proprietary virtual meeting technology to help superannuation funds connect with their members.
We set up customised microsites for each of these meetings so we could collect RSVPs and communicate relevant AMM information to the members.
We had several superannuation funds utilise these services in 2020 including The Association of Superannuation Funds of Australia, Qantas Super, Prime Super, Legal Super and Statewide Super. The virtual platform allowed for the key stakeholders to attend these AMMs and attendance levels ranged from 21 up to 261 members.
Similarly, Legal Super utilised our virtual meeting, member communications and microsite services as well as our company secretarial service and online member survey to collect member feedback post-meeting.