Despite the advantages of their household brand names, wide branch networks and cross-selling from planning groups and accountants, competition isn’t working to their benefit so they are now seeking to change the rules. Superannuation is more than just a wealth management system: It’s a key part of our nation’s retirement incomes policy. It is built on mandated contributions. It follows that both employers and employees (or their representatives) have the ultimate say in determining the default fund or funds for their industries or workplace. From a public policy perspective, our super system must offer the highest level of consumer protection, particularly for the disengaged. Indeed, this is the thinking behind the proposed “MySuper” default funds, as part of the Government’s Stronger Super reforms. Eventually, only MySuper funds will qualify as default funds.