About Incolink

Incolink is Australia’s oldest, largest and most comprehensive workers’ entitlement scheme. Incolink is the safety net for the building and construction industry.

Incolink provides a safety net for workers in the commercial building and construction industry where permanency and continuity of employment are significant issues. Our members get the security of redundancy payments, portable sick leave, income protection insurance and industry-best training. Through sound investment of member entitlements, we fund health and wellbeing supports like counselling and mental health services to build a stronger industry and support workers when they need us. We are Australia’s largest provider of severance benefits and income protection in our industry, and a true employer and union partnership.


Brian Boyd

Independent Chairman (Non-voting)

Brian was a Director since 1992 through to the end of 2019. He is the immediate past Secretary of the Victorian Trades Hall Council and Convenor of the Building Industry Group of Unions (BIG).

Earl Setches

Non-Executive Director (since 2002)

Earl has been actively involved in the plumbing industry for 30 years. In 2001 Earl was elected State and Federal Secretary of the Plumbing Trades Employees Union, and he has held both roles ever since. Earl is also Chair of the Plumbing Industry Climate Action Centre and Indigenous Plumbing and Sanitation Foundation, and is a Board Member of the Victorian Building Authority Plumbing Advisory Council, the Building Industry Consultative Committee, Incolink, CBus and the Plumbing Joint Training Fund.

Michaela Lihou

Non-Executive Director (Since 2021)

Michaela leads the development of Master Builders Victoria’s corporate strategy and empowers the MBV team to live and inspire MBV's values, and consistently strengthen their capabilities. Her customer-centric team adds value to MBV members and customers and helps them succeed through the provision of OHS, IR and Legal advisory services and solutions.

Michael O'Neill

Non-Executive Director (since 2013)

Michael was appointed Independent non-voting Director in 2013. Michael has senior finance executive experience with NAB and KPMG and is a graduate of the Australian Institute of Company Directors. He is an experienced non-executive Director and is currently the Chair of Gymnastics Victoria and a Director of Teachers Mutual Bank, The Royal Women’s Hospital and cohealth.

Ralph Edwards

Non-Executive Director (since 2016)

Ralph has been a board member since January 2016. He is the President of the Construction and General Division of the Construction, Forestry, Mining and Energy Union (CFMEU) Victoria/Tasmania branch.

Noel Washington

Non-Executive Director (since 2017)

Noel worked in the metal and construction industry for 10 years before he became a Union Official for 25 years with FEDFA and CFMEU where he held the Senior Vice-President position. He has also served on various CFMEU Boards and Committees as well as the Construction Industry Training Board Tasmania.

Bill Oliver

Non-Executive Director (since 2007)

Bill has been a Director since 2007. He is immediate past State Secretary of the Construction and General Division of the Construction, Forestry, Mining and Energy Union (CFMEU) Victorian Branch.

Saeed Mirbagher

Non-executive Director (Since 2021)

Saeed leads the MBV commercial teams, including the Master Builders Training Institute and Master Builders Building Services teams; he also leads the MBV IT and finance teams. Saeed's leadership approach means he challenges the status quo and adds value to MBV members by driving innovation and change.

Peter Daly

Non-executive Director (Since 2021)

With more than 20 years’ experience in senior leadership roles in the corporate and not-for-profit sectors, Peter has a deep understanding of membership organisations and a proven history of working successfully with government and industry to build consensus around business and public policy outcomes. He is a Civil Engineer and a member of the Australian Institute of Company Directors. Peter is the CEO and Secretary of Master Plumbers and Mechanical Services Association of Australia, member of various government advisory bodies and Director on the board of a number of business entities and charitable organisations.

Erik Locke
Chief Executive

Niall Keane
Chief Financial Officer

Tri Nguyen
General Counsel & Company Secretary

Patricia McCourt
Executive General Manager, Member Services

Ashleigh Connolly
Executive General Manager, Operations

Employer AssociationsIndustry Unions
AMCA - Air Conditioning and Mechanical Contractors' Association of VictoriaAMWU - Australian Manufacturing Workers Union
AWCIV - Association of Wall and Ceiling Industries VictoriaAWU - Australian Workers Union
CCF - Civil Contractors Federation Victorian BranchCEPU (Plumbing Division, PPTEU) -Communications, Electrical and Plumbing Union (Plumbing Division, Plumbing and Pipe Trades and Employees Union)
MBAV - Master Builders VictoriaCFMEU Vic-Tas (Construction & General) - Construction, Forestry, Mining & Energy Union, Victoria-Tasmania - Construction & General
MPAV - Master Painters Association of Victoria/TasmaniaCFMEU (Manufacturing) - Construction, Forestry, Mining & Energy Union - Manufacturing Division
MP&MSAA - Master Plumbers and Mechanical Services Association of AustraliaRTBU - Rail, Tram and Bus Union
NFIA - National Fire Industry AssociationVTHC - Victorian Trades Hall Council

The Board has established a number of sub-committees to assist in the execution of its duties and to allow detailed consideration of complex issues. The outcomes of committee meetings are tabled at the subsequent board meeting.

Conduct annual reviews of staff salaries and remuneration for members of the Board and implement any decisions of the Committee resulting from any such review.

Brian BoydIndependent Chairman
Bill OliverDirectorRalph Edwards
Tri Duc NguyenCommittee Secretary

Assist the Board in the oversight of investments. Oversee and monitor the investment governance framework; review investment objectives, strategies, and policies on a regular basis; review the performance of investments; and generally review all investment proposals and transactions prior to Board approval.

Brian BoydIndependent Chairman
Hedley DavisDirector
Bill OliverDirectorRalph Edwards
Earl SetchesDirectorPaddy McCrudden
Michael O'NeillDirector
Niall KeaneCommittee Secretary

Review the financial performance of Incolink; Oversee the audit program; Oversee the management of risk in accordance with the Risk Management Framework.

Michael O'NeillIndependent Chairman
Hedley DavisDirector
Peter DalyCommittee MemberKen Gardner
Noel WashingtonDirectorRalph Edwards
Ralph EdwardsDirectorBill Oliver
Niall KeaneCommittee Secretary

Oversight of Member wellbeing and support programs; the performance of Incolink scheme insurances; sponsorships and donations; Member compliance, service standards, complaints handling. Review any other operational changes/programs that may impact the Member.

Brian BoydIndependent Chairman
Noel WashingtonDirectorRalph Edwards
Ralph EdwardsDirectorBill Oliver
Patricia McCourtCommittee Secretary
Ashleigh ConnollyCommittee Secretary

Annual Report

Incolink's annual reports illustrate how we go about being the construction industry safetynet.

The report outlines our financial position and our investment performance, in line with our investment strategy.

We also highlight the vital partnership and sponsorship arrangements we have with organisations, government bodies and service providers which assist us in delivering for our members.

In 2020, we shifted to a fully digital reporting format. Visit to access the 2019/20 Annual Report.

You can also access previous versions of the Incolink Annual Report below.

For further information please contact

Investment Strategy

We manage investments that are held in trust in a responsible and professional manner for the best risk-adjusted returns for members and industry stakeholders. This means we can readily meet member claim obligations, fund our operations, meet the wellbeing and support needs of our members, and reinvest back into the industry.

We fund skills-based registered training providers and industry led OH&S Training and Awareness projects.

Incolink constructs its portfolio by investing in a broad range of diversified asset classes with the required blended risk and return characteristics. An external investment consultant is engaged to provide expert advice to management and directors on the composition of the portfolio and external fund managers appointed to manage these strategies.

Return objective (i.e. what the investment portfolio should achieve)Funding target (i.e. the amount of investment assets compared to member liabilities)
4.5% after tax and fees (or approximately 6.5% before tax and fees)110% (or assets are 10% more than the liabilities)

Incolink measures the true success of investment performance against the return objective over rolling four-year periods. Over the four years to 30 June 2019, Incolink’s investment portfolio outperformed both the market benchmark (7.5% vs 6.7%) and the return objective (7.5% vs 7.4%).

Incolink’s funding coverage buffer as at 30 June 2019 stood at 126%

Trust Deeds

Trustee Determinations

Deeds of Amendment