Notice of Special General Meeting

11 April 2025

Dear Members

Retirees WA Inc is holding an Extraordinary Meeting on 29 May 2025 at the Tuart Hill Branch premises at 10.30am at Osborne Park Community Centre, Community Hall, 11 Royal Street, Tuart Hill.

Retirees WA (Inc) is a not-for-profit organization registered with the Australian Charities and Not-for-Profits Commission (ACNC) and governed by the Associations Incorporation Act 2015 in Western Australia. The organization manages 18 retirements villages (290 units), two Aged Care facilities, a funeral fund, a social club, and a bus, with a consolidated turnover exceeding $25 million.

In recent months, Retirees WA Inc has been working closely with the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) in relation to its requirements and recommendations. DEMIRS is the department that is responsible for overseeing incorporated associations such as Retirees WA. In particular, in line with DEMIRS’ requirements and recommendations:

· Retirees WA has appointed Henrietta de Sa as Chief Executive Officer and Andrew Kruger as Chief Financial Officer.

· The Membership approved various changes to the constitution at the AGM held in October 2024.

· Following the changes to the Constitution, four Independent Board members specialised in their respective fields have joined the Retirees WA Board.

· The Board has since appointed various Subcommittees to help with better governance of the organisation. They are:

Disputes Committee;
Funeral Fund Committee;
Audit Committee;
Remuneration Committee; and
Disciplinary Panel.

· Retirees WA has executed a Funeral Fund Trust Deed and Funeral Fund Deed Poll to better safeguard the monies of our members and Retirees WA’s responsibility to ensure that all Funeral Fund contracts are honoured.

The Executives, the Office Holders and rest of the Board members have been working tirelessly, giving a lot of their time in helping Retirees WA achieve its goals. We have various litigation matters on foot and our Disputes committee is working hard to investigate and resolve the issues.

Being on the Board in a voluntary capacity, the generally-elected Board members only receive out-of-pocket expenses relating to travel in performing their duty as a Board member. The Independent Board Members currently receive nothing, however their involvement is on the understanding that their roles will be remunerated. The proposed remuneration for all Board members, subject to signing their proposed Board member engagement agreements, is as follows:

1. President: $20,000 per annum

2. Vice-President: $12,000 per annum

3. Other Board Members: $10,000 per annum

4. Additional compensation for specialized roles: up to $15,000 extra per annum.

In accordance with the Associations Incorporation Act 2015 Division 2 Clause 1, Retirees WA Inc would like to put the following motions to the Membership for approval.

Motion:

Moved: Seconded:

“The President of Retirees WA Inc receive an annual remuneration package of $20,000 per annum.”

Motion:

Moved: Seconded:

“The Vice President of Retirees WA Inc receive an annual remuneration package of $12,000 per annum.”

Motion:

Moved: Seconded:

“Each generally-elected Board Member, being a member of Retirees WA Inc, receive an annual remuneration package of $10,000 per annum.”

Motion:

Moved: Seconded:

“Each independent Board Member, not being a member of Retirees WA Inc, receive an annual remuneration package of $10,000 per annum and additional compensation for their specialized role up to $15,000 extra per annum.”

On approval by the Membership, the following will then take place:

· Annual Review Process: Set up an annual review mechanism to assess and adjust the remuneration package as needed.

· Transparency Measures: Ensure the remuneration is disclosed in annual reports and the financial statements, as required by ACNC.

· Individual Board Member Agreement: Develop and implement a contract for each Board Member to sign, outlining their responsibilities and the agreed remuneration.

We would be grateful if members actively show their support by taking part in and attending the meeting.

Do give me a call if you need further information.

Regards

Henrietta de Sa BA Hons MA

CEO