Important Notice to ALL Holden Employees Superannuation Fund Members 

GM Announcement
 
On 17 February 2020, GM announced that it will wind down GM Holden vehicle sales, engineering and design operations in both Australia and New Zealand. At the same time, GM advised that it will maintain GM Holden’s parts and services business in Australia.  
 
Trustee Update
 

On behalf of my fellow Trustee Directors, I would like to reassure you that: 

  • The Trustee Board is independent from GM and GM Holden Ltd, and comprises equal numbers of member representative and employer representative Directors, as well as one independent Director. 
  • All of the Fund’s assets are completely separate from those of GM and GM Holden Ltd. (More information about the Fund's investments can be found on the Fund website - www.holdensuper.com.au
  • GM Holden Ltd has already written to the Trustee and advised that it will continue to make all the necessary contributions to the Fund as it currently does, including contributions for those members who will remain employed in GM Holden’s parts and services business. This was reinforced at a meeting on 20 February 2020 between the Trustee and GM Holden’s Chief Financial Officer. 
  • At this time, there are no current plans to change the existing arrangements for operating and managing the Fund. 

Two key priorities for the Trustee now are assisting members who will soon be ceasing employment with GM Holden, and keeping you fully informed as developments occur.
 
If you have any queries, please contact the Fund Helpline on 1800 700 995 in the first instance.
 
Yours sincerely
 
Phil Rubira

This information has been prepared by Holden Employees Superannuation Fund Pty Ltd ABN 26 065 656 948, for general information only. The information does not take into account your personal objectives, financial situation or needs. Therefore, you should not act on this information if you have not considered the appropriateness of this information to your personal objectives, financial situation and needs. You should consult a licensed or appropriately authorised financial adviser before making any financial decision.

12 March 2020