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 :
A year after regulators put super funds on notice about the unacceptable gap between the best and the worst of responses to the Retirement Income Covenant, the situation has become even worse. The Retirement Leaders Summit in Canberra heard that the leading funds treat retirement as a core business, while the laggards still see it as a compliance exercise.
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