Ex-politicians know a thing or two about super. After all, most of them are on a doozy of a pension from the time they quit or get voted out, to the day they enter that big Upper House in the sky.
Okay, so they might not know anything about the ‘decumulation phase’, but overall they’ve got this retirement incomes thing sussed. A good thing, then, that quite a few former Members have joined our industry over the years, and some senior ones too. You’ve got former NSW Opposition Leader Peter Collins on the board of HostPlus, former NSW Premier Bob Carr as a door-opener for Macquarie Bank, and more recently former Nationals leader and deputy prime minister, Mark Vaile, gracing the chair of Palisade Investment Partners’ Regional Infrastructure Fund.
And we hear the super world is about to get even more ex-pollie expertise. At presstime, there was reliable talk going around that former Victorian premier, Steve Bracks, would shortly be announced as the next chair of building industry fund Cbus, replacing yet another of his ilk – Ralph Willis, former Treasurer in the Keating government, who’s said to be retiring from the role.