One wonders what they think the term ‘equal representation’ actually means. But they are right to draw attention to the union’s role in superannuation – surely one of the great business success stories of our times. It is now well-documented that the members of equal representation super funds – as opposed to corporate directors – fare a lot better from a system of governance that puts their interests first. Research from the Australian Prudential Regulation Authority into the outsourcing arrangements of a super funds shows that in many cases members of retail funds – ‘corporate-controlled’ funds – were paying twice the administration fees paid by a member of a not-forprofit fund. Jeremy Cooper says good governance was ‘generally the solution’ to fixing problems in the super industry. We in the not-for-profit sector agree with him. And I’m sure John Coombs and Chris Corrigan would also heartedly agree. Good governance, even during the tough times, is what made their super fund so strong.