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 :
With the super industry facing into headwinds that raise the floor on minimum scale and increase complexity, the pressure towards further consolidation should ultimately prove unstoppable, and a natural end-point could be ten mega-funds over $200 billion in size managing more than 90 per cent of system assets. The path to that destination, however, could be bumpy.
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