A year of ebb and flow
We’re sure you’ll agree that 2019–20 was an unforgettable year. We hope you and your team have fared well despite the lingering swell of COVID-19.
The Coal LSL ship navigated exponential growth in clients and team resourcing to meet the increased servicing needs amid operational pivoting for a pandemic that hit us all out of left field.
We were satisfied to end the year as we started with $1.8B funds under management when it could have been worse given the global market damage COVID-19 has caused to date.
Remarkably, we ended the stormy year with 971 registered employers, with our team processing close to 100% more registrations this year compared to 2018–19. This number reached 1,000 registered employers soon after the end of the financial year (EOFY) in September. While registration is a legal obligation for employers of eligible employees in black coal mining, this increase is also an indication of the
scheme’s recognised value to the industry: supporting skills retention and providing valuable assistance in instances of redundancy, ill health or incapacity. Consequently, growth in active eligible employees reached 53,230 by EOFY.
The Fund closed the year managing 55 million hours of leave for 125,115 eligible employees. Our highlights, and lowlights, are available online now in our 2019–20 annual report.