21 March 2012 16:26
The not-for-profit superannuation movement should promote the strengths of its representative trustee system amid criticism that it lacks independence and professionalism, CMSF 2012 heard.
Steve Bracks, former Victorian premier and current chair of Cbus, said the representative trustee system not only delivered good oversight but also brought union and employer group officials with skills in various disciplines to fund boards.
Follow our coverage from day one and two of CMSF 2012 :
Treasurer Jim Chalmers has appointed APRA insider Therese McCarthy Hockey and former Labor Assistant Treasurer David Bradbury to the prudential regulator to replace Margaret Cole, citing “increasing scale and complexity in the financial system”. But Bradbury’s appointment has sparked swift backlash from the Liberal Party.
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